Corporate and Criminal Fraud Accountability Act of 2002

Summary

Corporate and Criminal Fraud Accountability Act of 2002 - Amends the Federal criminal code to set penalties for: (1) destroying, altering, or falsifying records in Federal investigations or in bankruptcy; (2) failure of an accountant who conducts an audit of an issuer of securities to maintain all documents sent, received, or created in connection with the audit for a five year period; and (3) executing a scheme to defraud in connection with a registered security, or to obtain by false pretenses money or property in connection with its purchase or sale. Directs the United States Sentencing Commission to review the Federal sentencing guidelines for obstruction of justice, and for fraud when the number of victims adversely involved is significantly greater than 50 or when it endangers the solvency or financial security of multiple victims. Amends: (1) Federal bankruptcy law to make certain debts incurred in violation of Federal or State securities laws, or common law fraud in connection with the purchase or sale of any security, non-dischargeable in bankruptcy, and to increase the amount of employees' wages protected under chapter 11 proceedings; and (2) the Federal judicial code to authorize a private right of action that involves a securities fraud-related claim to be brought by the earlier of five years after the date of the alleged violation or three years after its discovery. Authorizes a civil action to protect whistle-blowing employees against retaliation in fraud cases involving publicly traded companies. Amends the judicial code to direct the Attorney General to establish within the Department of Justice a Retirement Security Fraud Bureau.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 9 April 2002

   Introduced

   Referred to the House Committee on the Judiciary.

   Source: IntroReferral

2. 9 April 2002

   Introduced

   Sponsor introductory remarks on measure. (CR E463-464)

   Source: IntroReferral

3. 9 April 2002

   Introduced

   Introduced in House

   Source: IntroReferral

4. 9 April 2002

   Introduced

   Introduced in House

   Source: IntroReferral

5. 6 May 2002

   Referred

   Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 9 April 2002 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 April 2002

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 9 April 2002

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 9 April 2002

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Conyers, John, Jr. [D-MI-13] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. Berman, Howard L. [D-CA-28] · D · Sponsor
• Rep. Jackson Lee, Sheila [D-TX-18] · D · Sponsor
• Rep. Waters, Maxine [D-CA-43] · D · Sponsor
• Rep. Gephardt, Richard A. [D-MO-3] · D · Sponsor
• Rep. LaFalce, John J. [D-NY-29] · D · Sponsor
• Rep. Engel, Eliot L. [D-NY-16] · D · Sponsor
• Rep. Dingell, John D. [D-MI-12] · D · Sponsor
• Rep. Jackson, Jesse L., Jr. [D-IL-2] · D · Sponsor
• Del. Christensen, Donna M. [D-VI-At Large] · D · Sponsor
• Rep. Davis, Danny K. [D-IL-7] · D · Sponsor
• Rep. Cummings, Elijah E. [D-MD-7] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Rep. Solis, Hilda L. [D-CA-32] · D · Sponsor
• Rep. Clayton, Eva M. [D-NC-1] · D · Sponsor
• Rep. Brown, Corrine [D-FL-5] · D · Sponsor
• Rep. Lynch, Stephen F. [D-MA-8] · D · Sponsor
• Rep. Hoeffel, Joseph M. [D-PA-13] · D · Sponsor
• Rep. Gutierrez, Luis V. [D-IL-4] · D · Sponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Cosponsor
• Rep. Kilpatrick, Carolyn C. [D-MI-13] · D · Cosponsor
• Rep. Bonior, David E. [D-MI-10] · D · Cosponsor
• Rep. McGovern, James P. [D-MA-2] · D · Cosponsor
• Rep. Mink, Patsy T. [D-HI-2] · D · Cosponsor
• Sen. Markey, Edward J. [D-MA] · D · Cosponsor
• Rep. Kucinich, Dennis J. [D-OH-10] · D · Cosponsor
• Rep. Skelton, Ike [D-MO-4] · D · Cosponsor
• Rep. Waxman, Henry A. [D-CA-33] · D · Cosponsor
• Rep. Blagojevich, Rod R. [D-IL-5] · D · Cosponsor
• Rep. Scott, Robert C. "Bobby" [D-VA-3] · D · Cosponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Cosponsor
• Rep. DeLauro, Rosa L. [D-CT-3] · D · Cosponsor
• Sen. Brown, Sherrod [D-OH] · D · Cosponsor
• Rep. Lowey, Nita M. [D-NY-17] · D · Cosponsor
• · hsju00 · Standing

Related records

• related to → Providing for consideration of the bill (H.R. 4098) to provide for ciminal prosecution of persons who alter or destroy evidence in certain Federal investigations or defraud investors of publicly traded securities, to disallow debts incurred in violation of securities fraud laws from being discharged in bankruptcy, to protect whistleblowers against retaliation by their employers, and for other purposes.
• related to ← Corporate and Criminal Fraud Accountability Act of 2002