Sergei Magnitsky Rule of Law Accountability Act of 2012

Summary

Sergei Magnitsky Rule of Law Accountability Act of 2011 - Directs the Secretary of State to publish and update a list of each person the Secretary has reason to believe: (1) is responsible for the detention, abuse, or death of Sergei Magnitsky, participated in related liability concealment efforts, or committed those frauds discovered by Sergei Magnitsky, including conspiring to defraud the Russian Federation of taxes on corporate profits through fraudulent transactions and lawsuits against the Hermitage foreign investment company and to misappropriate entities owned or controlled by Hermitage; or (2) is responsible for extrajudicial killings, torture, or other human rights violations committed against individuals seeking to promote human rights or to expose illegal activity carried out by officials of the government of the Russian Federation. Makes an alien on such list ineligible to enter or be admitted to the United States. Revokes any visa issued for such person. Authorizes the Secretary to waive such prohibition if in the U.S. national interest. Requires congressional notification of any such waiver. Directs the Secretary of the Treasury to: (1) instruct domestic financial institutions and agencies to take specified measures if the Secretary makes a money laundering determination relating to such conspiracy, and (2) freeze and prohibit U.S. property transactions of an individual who is on the list or who acts as an agent for a listed individual. Authorizes the Secretary to waive such actions if in the U.S. national interest. Requires congressional notification of any such waiver. Subjects a person who violates, attempts to violate, or causes a violation of such money laundering or asset provisions to specified penalties. Directs the Secretary of the Treasury to prescribe regulations requiring each financial institution that is a U.S. person to: (1) audit the assets within its possession or control to determine whether any such assets are required to be frozen pursuant to this Act, and (2) submit a report to the the Secretary containing the audit's results and a certification that such assets have been frozen. Subjects a financial institution that violates such regulations to specified penalties.

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Documents

6 official files

• Reported to Senate (text)

  Reported to Senate · EN · 23 July 2012

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• Reported to Senate (PDF)

  Reported to Senate · EN · 23 July 2012

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• Reported to Senate with amendment(s)

  summary · EN · 23 July 2012

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• Introduced in Senate (text)

  Introduced in Senate · EN · 19 May 2011

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 May 2011

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• Introduced in Senate

  summary · EN · 19 May 2011

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