Tracking Bad Actors Act of 2023

The Tracking Bad Actors Act of 2023 mandates that federal financial regulators (including the SEC, CFTC, and FDIC) create a free, publicly accessible database within three years. This database will list individuals or entities convicted or held liable in financial misconduct cases brought by federal regulators, the DOJ, state agencies, or self-regulatory organizations. Key provisions require automatic removal of entries if cases are overturned or withdrawn, and the SEC will oversee the database’s operation. The law directly affects financial professionals and entities subject to enforcement actions, providing transparency for investors and employers.