Hold Corporate Criminals Accountable Act of 2024

senate

house

president

Legislation Details

Amends title 18 of the United States Code to enhance accountability in deferred prosecution agreements.
Requires courts to determine if such agreements are in the public interest when the defendant is a corporate entity.
Establishes specific factors for courts to consider when approving deferred prosecution agreements, including:
- Reasonableness of punitive measures and financial penalties.
- Compliance terms and independent monitoring.
- Cooperation with law enforcement and identification of culpable individuals.
- Goals of the substantive law violation and collateral consequences.
- Impact on the public and regulatory schemes.
- Adequacy of public admissions regarding conduct.
- Prior criminal investigations of the defendant.
Mandates independent compliance monitoring for corporate defendants under probation or deferred prosecution agreements, using objective metrics.
Requires the Attorney General to report on compliance monitoring efforts within one year of enactment.
Introduces transparency requirements for federal agencies regarding settlement agreements, including:
- Publicly posting information about covered settlement agreements online.
- Maintaining records for a minimum of five years, or ten years for larger settlements.
- Issuing public statements when confidentiality provisions are invoked.
- Annual reporting to Congress on settlement agreements and associated costs.
Extends the statute of limitations for prosecuting offenses involving financial institutions to ten years.
Requires entities seeking reduced sentences to assist in identifying and investigating culpable individuals involved in offenses.

Amends title 18 of the United States Code to enhance accountability in deferred prosecution agreements.
Requires courts to determine if such agreements are in the public interest when the defendant is a corporate entity.
Establishes specific factors for courts to consider when approving deferred prosecution agreements, including:
- Reasonableness of punitive measures and financial penalties.
- Compliance terms and independent monitoring.
- Cooperation with law enforcement and identification of culpable individuals.
- Goals of the substantive law violation and collateral consequences.
- Impact on the public and regulatory schemes.
- Adequacy of public admissions regarding conduct.
- Prior criminal investigations of the defendant.
Mandates independent compliance monitoring for corporate defendants under probation or deferred prosecution agreements, using objective metrics.
Requires the Attorney General to report on compliance monitoring efforts within one year of enactment.
Introduces transparency requirements for federal agencies regarding settlement agreements, including:
- Publicly posting information about covered settlement agreements online.
- Maintaining records for a minimum of five years, or ten years for larger settlements.
- Issuing public statements when confidentiality provisions are invoked.
- Annual reporting to Congress on settlement agreements and associated costs.
Extends the statute of limitations for prosecuting offenses involving financial institutions to ten years.
Requires entities seeking reduced sentences to assist in identifying and investigating culpable individuals involved in offenses.

Hold Corporate Criminals Accountable Act of 2024

Cosponsors