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Executive Accountability: Executives Pay Fines, Not Shareholders.

This law aims to protect investors and citizens who own company shares. It requires public companies to disclose whether they have procedures to 'claw back' fines and penalties from the compensation of executives responsible for corporate misconduct. This ensures that the financial burden of irresponsible actions falls on the managers, rather than reducing shareholder value.
Key points
Publicly traded companies must disclose if they have procedures to recoup financial penalties and fines from responsible executives.
If money was recouped, the company must report the amounts taken from specific executives over the last three years.
The goal is to shift the cost of misconduct fines from shareholders to the accountable corporate management.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_9736
Sponsor: Rep. Porter, Katie [D-CA-47]
Process start date: 2024-09-20
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Corporate Management Accountability Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9736.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-09-20.

What are the main provisions?

Key points include:

  • Publicly traded companies must disclose if they have procedures to recoup financial penalties and fines from responsible executives.
  • If money was recouped, the company must report the amounts taken from specific executives over the last three years.
  • The goal is to shift the cost of misconduct fines from shareholders to the accountable corporate management.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Porter, Katie [D-CA-47].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Courts and Law