Corporate Management Accountability Act of 2024

HR 9736, the Corporate Management Accountability Act of 2024, requires public companies (reporting companies) to disclose in annual reports or proxy statements whether they recoup executive pay related to company fines. It directly affects public corporations with registered securities and their named executive officers. Companies must disclose if they have procedures to recover costs of fines from executives' past compensation, describe those procedures, and report amounts recouped over the last three years. If no such procedures exist, companies must explain why they are unnecessary for shareholder benefit. The bill mandates these disclosures starting within 360 days of enactment.