Corporate Accountability: Transparency in Settlements and Longer Prosecution Time.
This bill tightens oversight on large companies accused of crimes by requiring public disclosure of major settlement agreements (over $1 million). Citizens will gain access to details about financial penalties and compliance terms, ensuring greater transparency in corporate justice. Furthermore, the statute of limitations for prosecuting corporate and financial crimes is extended to 10 years, aiming to better protect public interests and victims.
Key points
Transparency: Federal agencies must publish details and copies of corporate settlements (over $1M), including fines and fund allocation.
Longer Prosecution Time: The statute of limitations for corporate and financial offenses is extended from 5 to 10 years.
Stricter Oversight: Corporations must obtain court approval for deferred prosecution and are required to use independent monitoring and identify culpable employees.
Status:
Expired
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