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

Introduced:
May 30, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Barney Frank
Representative for Massachusetts's 4th congressional district
Party
Democrat
Text
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Last Updated
May 30, 2012
Length
8 pages
 
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
 
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.

Cosponsors
4 cosponsors (4D) (show)
Committees

House Agriculture

General Farm Commodities and Risk Management

House Financial Services

Capital Markets and Government Sponsored Enterprises

Financial Institutions and Consumer Credit

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

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

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

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