H.R. 5860 (112th): Executive Compensation Clawback Full Enforcement Act

Introduced:
May 30, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Barney Frank [D-MA4]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on May 30, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced May 30, 2012
Referred to Committee May 30, 2012
Cosponsors
4 cosponsors (4D) (show)
Committees

House Agriculture

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To prohibit individuals from insuring against possible losses from having to repay illegally-received compensation or from having to pay civil penalties, and for other purposes.

Summary

No summaries available.

Text

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Last updated May 30, 2012.
8 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/30/2012--Introduced.
Executive Compensation Clawback Full Enforcement Act - Prohibits personnel or affiliated parties of depository institutions, depository institution holding companies, or nonbank financial companies who are required by federal financial regulatory law that imposes personal liability from insuring or hedging against, or otherwise transferring the risks associated with, personal liability for amounts owed as repayment of previously earned compensation or civil penalties.
States that such persons are not precluded from being provided funds from:
(1) specified entities to defend against previously earned compensation recovery or civil money penalty, or
(2) certain insurance that protects against personal liability.
Applies this Act to the personnel or affiliated party of a foreign nonbank financial company only to the extent such party is based in the United States.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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