Summary: H.R.5860 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for H.R.5860. Bill summaries are authored by CRS.

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Introduced in House (05/30/2012)

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.