Corporate Executive Accountability Act This bill makes it unlawful for an executive officer of a corporation that generates more than $1 billion in annual revenue to negligently permit or fail to prevent violations of federal or state law. Specifically, such an executive officer is criminally liable for actions in which the corporation was (1) convicted or entered into a deferred or non-prosecution agreement for any crime; (2) found liable or entered into a settlement with a state or federal agency for the violation of any civil law if such a violation affects the health, safety, finances, or personal data of a certain population; or (3) convicted or found liable for a different criminal or civil violation that was committed while the corporation was acting under a judgment, agreement, or settlement. Additionally, the bill establishes penalties for violations. For a first offense, a violator is subject to a fine, a prison term of up to one year, or both. For a second or subsequent offense, a violator is subject to a fine, a prison term of up to three years, or both.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on the Judiciary.
Introduced in Senate
Read twice and referred to the Committee on the Judiciary.
Crime and Law Enforcement
Business ethicsCivil actions and liabilityCorporate finance and managementCriminal investigation, prosecution, interrogationFraud offenses and financial crimesRight of privacy
Corporate Executive Accountability Act
USA116th CongressS-1010| Senate
| Updated: 4/3/2019
Corporate Executive Accountability Act This bill makes it unlawful for an executive officer of a corporation that generates more than $1 billion in annual revenue to negligently permit or fail to prevent violations of federal or state law. Specifically, such an executive officer is criminally liable for actions in which the corporation was (1) convicted or entered into a deferred or non-prosecution agreement for any crime; (2) found liable or entered into a settlement with a state or federal agency for the violation of any civil law if such a violation affects the health, safety, finances, or personal data of a certain population; or (3) convicted or found liable for a different criminal or civil violation that was committed while the corporation was acting under a judgment, agreement, or settlement. Additionally, the bill establishes penalties for violations. For a first offense, a violator is subject to a fine, a prison term of up to one year, or both. For a second or subsequent offense, a violator is subject to a fine, a prison term of up to three years, or both.
Business ethicsCivil actions and liabilityCorporate finance and managementCriminal investigation, prosecution, interrogationFraud offenses and financial crimesRight of privacy