,,ii  #aahth ,,congress  #ast ,session  
,s4 #aijj  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #h1      
#bjbc,mr4 ,kennedy 7for himself and ,ms4
 ,lummis7 introduced the following bill2
 which was read twice and referred to   
the ,committee on ,banking1 ,housing1   
and ,urban ,affairs  ,a ,,bill  ,to     
require ,federal financial regulators to
 create a publicly available database   
for certain bad actors1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,tracking ,bad      
,actors ,act of #bjbc4  #b4 ,definition 
,in this ,act1 the term ,federal        
financial regulator means-- 7#a7 the    
,commodity ,futures ,trading            
,commission2  7#b7 the ,securities and  
,exchange ,commission2  7#c7 the ,office
 of the ,comptroller of the ,currency2  
7#d7 the ,federal ,deposit ,insurance   
,corporation2  7#e7 the ,financial      
,industry ,regulatory ,agency2 and  7#f7
 the ,public ,company ,accounting       
,oversight ,board4  #c4 ,database  7a7  

,in general ,not later than #c years    
after the date of enactment of this     
,act1 the ,federal financial regulators 
shall jointly establish a publicly      
available database of persons convicted 
or held liable in criminal1 civil1 and  
administrative actions relating to      
financial services brought by-- 7#a7 any
 ,federal financial regulator1 to the   
greatest extent practicable2  7#b7 the  
,department of ,justice2  7#c7 any      
self-regulatory organization or similar 
entity overseen by a ,federal financial 
regulator if required by such regulator2
 or  7#d7 any ,state or local criminal  
or regulatory agency that voluntarily   
submits information to the database4    
7b7 ,oversight ,the ,securities and     
,exchange ,commission shall be the lead 
agency responsible for oversight of the 
database established under subsection   
7a74  7c7 ,free access ,the information 
in the database established under       
subsection 7a7 shall be free of charge  
to the public4  7d7 ,operation ,the     

database established under subsection   
7a7 shall be operated by a ,federal     
agency or maintained by a third party4  
7e7 ,expungement ,any agency who submits
 information to the database under      
subsection 7a7 shall expunge any        
enforcement action brought by the agency
 if the action is-- 7#a7 overturned upon
 judicial review2 or  7#b7 withdrawn by 
the agency4  7f7 ,reports  7#a7 ,federal
 financial regulators ,the ,federal     
financial regulators shall jointly      
submit to ,congress an annual report on 
the database during the period beginning
 on the date of enactment of this ,act  
and ending on the date on which the     
database is operational4  7#b7 ,,gao    
report ,not later than #e years after   
the date on which the database is       
operational1 the ,comptroller ,general  
of the ,united ,states shall submit to  
,congress a report on the database4