,,ii  #aai? ,,congress  #b;d ,session   
,s4 #efhe  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,octob] #ae1 #bjbf,ms4 
,w>r5 7= h]self1 ,mr4 ,blum5?al1 ,mr4   
,lujn1 & ,mr4 ,wyd571 "u au?ority ( !   
ord] ( ! ,s5ate ( ,septemb] #cj1 #bjbf1 
introduc$ ! foll[+ bill2 :i* 0 ord]$    
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to require ! disclosure (      
sup]visory records ( c]ta9 f9ancial     
in/itutions t relate to ,jeffrey ,ep/e91
 & = o!r purposes4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,ep/e9 ,wall      
,/reet ,records ,act ( #bjbf4  #b4      
,ep/e9 sup]visory records  7a7          
,def9itions ,9 ?is section3 7#a7 ,cov]$ 
in/itution ,! t]m cov]$ in/itution means
 any curr5t or =m] f9ancial in/itution )
 kn[n or alleg$ ties to-- 7,a7 ,jeffrey 
,ep/e92  7,b7 any entity own$ or        
controll$ by ,jeffrey ,ep/e91 :e!r      
directly or ?r\gh any repres5tative (   
,jeffrey ,ep/e92  7,c7 ,ghisla9e        
,maxwell2 or  7,d7 an associate (       

,jeffrey ,ep/e9 or ,ghisla9e ,maxwell4  
7#b7 ,cov]$ record ,! t]m cov]$ record  
means a sup]visory record 7includ+ an   
exam9ation report1 ! notes ( an exam9]1 
a sup]visory communication betwe5 a     
f9ancial regulatory ag5cy & a cov]$     
in/itution1 an inve/igatory fil+1 a     
matt] requir+ att5tion1 a matt] requir+ 
imm$iate att5tion1 an int]nal           
communication ( a f9ancial regulatory   
ag5cy reg>d+ a cov]$ in/itution1 & any  
o!r record creat$ or obta9$ 9 connection
 ) ! f9ancial regulatory ag5cy's        
sup]vision ( a cov]$ in/itution7 t--    
7,a7 a f9ancial regulatory ag5cy ma9ta9s
 ) respect to a cov]$ in/itution2 &     
7,b7 relates to-- 7i7 ,jeffrey ,ep/e92  
7ii7 any entity own$ or controll$ by    
,jeffrey ,ep/e91 :e!r directly or ?r\gh 
any repres5tative ( ,jeffrey ,ep/e92    
7iii7 ,ghisla9e ,maxwell2 or  7iv7 an   
associate ( ,jeffrey ,ep/e9 or ,ghisla9e
 ,maxwell4  7#c7 ,f9ancial regulatory   
ag5cy ,! t]m f9ancial regulatory ag5cy  
means-- 7,a7 ! ,bo>d ( ,gov]nors ( !    

,f$]al ,res]ve ,sy/em2  7,b7 ! ,(fice ( 
! ,comptroll] ( ! ,curr5cy2  7,c7 !     
,f$]al ,deposit ,insurance ,corporation2
 &  7,d7 ! ,securities & ,ex*ange       
,commission4  7#d7 ,s5ior executive ,!  
t]m s5ior executive1 ) respect to a     
cov]$ in/itution-- 7,a7 means a curr5t  
or =m] director1 (fic]1 controll+       
/ockhold]1 or p>tn] ( ! cov]$           
in/itution1 or any o!r employee ( !     
cov]$ in/itution ) sub/antial manag]ial1
 compliance1 inve/m5t1 or cli5t         
relation%ip managem5t responsibilities2 
&  7,b7 does n include an employee ( !  
cov]$ in/itution :o 0 n involv$ 9 !     
managem5t ( ! cov]$ in/itution4  7b7    
,production ( sup]visory records        
,not)/&+ any o!r provision ( law or     
regulation1 ea* f9ancial regulatory     
ag5cy %all-- 7#a7 n lat] ?an #ij days   
aft] ! date ( enactm5t ( ?is ,act1      
submit to ! ,*airman & ,rank+ ,memb] ( !
 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate1 ! ,*airman & ,rank+
 ,memb] ( ! ,committee on ,f9ancial     

,s]vices ( ! ,h\se ( ,repres5tatives1 ! 
,*airman & ,rank+ ,memb] ( ! ,committee 
on ,homel& ,security & ,gov]nm5tal      
,affairs ( ! ,s5ate1 & ! ,*airman &     
,rank+ ,memb] ( ! ,committee on         
,ov]sight & ,gov]nm5t ,re=m ( ! ,h\se ( 
,repres5tatives physical copies ( all   
cov]$ records ma9ta9$ by ! f9ancial     
regulatory ag5cy2  7#b7 n lat] ?an #abj 
days aft] ! date ( enactm5t ( ?is ,act1 
make publicly available 9 a se>*able &  
d[nloadable =mat all cov]$ records      
ma9ta9$ by ! f9ancial regulatory ag5cy1 
except t1 9 c>ry+ out ?is p>agraph1 a   
f9ancial regulatory ag5cy %all )hold or 
r$act ! segregable portion ( a cov]$    
record t conta9s p]sonally id5tifiable  
in=mation ( victims 7or ! p]sonal or    
m$ical files ( victims72 &  7#c7 provide
 a writt5 description ( ! basis = ea*   
)hold+ & r$action "u p>agraph 7#b74  7c7
 ,inve/igations  7#a7 ,9 g5]al ,ea*     
f9ancial regulatory ag5cy %all1         
imm$iately aft] ! date ( enactm5t ( ?is 
,act1 comm5ce inve/igations into cov]$  

in/itutions & s5ior executives ) respect
 to cov]$ in/itutions4  7#b7 ,subjects (
 inve/igations ,ea* inve/igation %all-- 
7,a7 det]m9e :e!r a cov]$ in/itution or 
s5ior executive violat$ ,f$]al bank+1   
securities1 or anti-money laund]+ laws2 
&  7,b7 evaluate-- 7i7 ! ext5t to :i* ! 
cov]$ in/itution1 & s5ior executives )  
respect to ! cov]$ in/itution1 conduct$ 
bus9ess ) ,jeffrey ,ep/e91 ,ghisla9e    
,maxwell1 or an associate ( ,jeffrey    
,ep/e9 or ,ghisla9e ,maxwell2  7ii7 !   
ext5t to :i* ! cov]$ in/itution1 & s5ior
 executives ) respect to ! cov]$        
in/itution1 fail$ to reasonably ov]see  
_! employees :o willfully or neglig5tly 
facilitat$ ef=ts by ,jeffrey ,ep/e91    
,ghisla9e ,maxwell1 or an associate (   
,jeffrey ,ep/e9 or ,ghisla9e ,maxwell to
 evade compliance1 regulatory1 &        
sup]visory controls & scrut9y relat+ to 
! bus9ess & transactions ( t cov]$      
in/itution2  7iii7 ! monet>y value ( !  
bus9ess relation%ip betwe5 ! cov]$      
in/itution & ,jeffrey ,ep/e91 ,ghisla9e 

,maxwell1 or an associate ( ,jeffrey    
,ep/e9 or ,ghisla9e ,maxwell2  7iv7 !   
ext5t to :i* ! cov]$ in/itution _h      
suffici5t controls 9 place to id5tify   
illicit activity conduct$ by ,jeffrey   
,ep/e91 ,ghisla9e ,maxwell1 or an       
associate ( ,jeffrey ,ep/e9 or ,ghisla9e
 ,maxwell1 :e!r ^? controls 7 ev]       
ex]cis$1 & ! outcome ( ex]cis+ ^?       
controls2  7v7 any communication betwe5 
! cov]$ in/itution & ,jeffrey ,ep/e91   
,ghisla9e ,maxwell1 or an associate (   
,jeffrey ,ep/e9 or ,ghisla9e ,maxwell2 &
  7vi7 :e!r any docum5ts relat$ to      
,jeffrey ,ep/e91 ,ghisla9e ,maxwell1 or 
an associate ( ,jeffrey ,ep/e9 or       
,ghisla9e ,maxwell 7 de/roy$1 &1 if s1  
:5 & :y ! docum5ts 7 de/roy$ & :o       
au?oriz$ ! de/ruction4  7d7 ,m&atory    
consid]ation ( indu/ry prohibition &    
civil p5alties = executive misconduct   
7#a7 ,f$]al res]ve2 fdic2 occ  7,a7 ,9  
g5]al ,! ,bo>d ( ,gov]nors ( ! ,f$]al   
,res]ve ,sy/em1 ! ,f$]al ,deposit       
,insurance ,corporation1 or ,comptroll] 

( ! ,curr5cy %all impose #a or m ( !    
rem$ies describ$ 9 subp>agraph 7,b7 if1 
9 ! c\rse ( conduct+ an inve/igation    
requir$ "u subsection 7c71 ! ,bo>d1     
,corporation1 or ,comptroll]1 z         
applicable1 det]m9es1 foll[+ notice & an
 opportunity = he>+1 t a s5ior executive
 ( an insur$ depository in/itution-- 7i7
 violat$ or aid$ or abett$ a violation (
 ,f$]al bank+ laws or ,f$]al anti-money 
laund]+ laws 9 connection ) ! f9ancial  
acc\nts or transactions ( ,jeffrey      
,ep/e92 or  7ii7 engag$ 9 conduct t     
o!rwise provides a basis = a sanction "u
 subsection 7e7 or 7i7 ( section #h ( ! 
,f$]al ,deposit ,insurance ,act 7#ab    
,u4,s4,c4 #ahah74  7,b7 ,rem$ies ,!     
rem$ies describ$ 9 ?is subp>agraph are !
 foll[+3 7i7 ,an ord] prohibit+ any     
p>ticipation by t s5ior executive1 9 any
 mann]1 9 ! conduct ( ! affairs ( any   
insur$ depository in/itution describ$ 9 
section #h7;e7 ( ! ,f$]al ,deposit      
,insurance ,act 7#ab ,u4,s4,c4          
#ahah7;e774  7ii7 ,an ord] impos+ a     

civil p5alty describ$ 9 section         
#h7;i77#b77;,c7 ( ! ,f$]al ,deposit     
,insurance ,act 7#ab ,u4,s4,c4          
#ahah7;i77#b77;,c774  7#b7 ,,sec  7,a7  
,9 g5]al ,! ,securities & ,ex*ange      
,commission %all seek or impose #a or m 
( ! rem$ies describ$ 9 subp>agraph 7,b7 
if1 9 ! c\rse ( conduct+ an inve/igation
 requir$ "u subsection 7c71 !           
,commission det]m9es1 foll[+ notice & an
 opportunity = a he>+1 t a s5ior        
executive ( a brok]1 deal]1 inve/m5t    
advis]1 municipal securities deal]1     
municipal advisor1 transf] ag5t1 or     
nationally recogniz$ /ati/ical rat+     
organization-- 7i7 violat$ or aid$ or   
abett$ a violation ( ,f$]al securities  
laws or ,f$]al anti-money laund]+ laws 9
 connection ) ! f9ancial acc\nts or     
transactions ( ,jeffrey ,ep/e92 or  7ii7
 engag$ 9 conduct t o!rwise provides a  
basis = a sanction "u section #bjc7;f7 (
 ! ,inve/m5t ,advis]s ,act ( #aidj 7#ae 
,u4,s4,c4 #hj;b-#c7;f77 or section      
#ae7;b77#f7 ( ! ,securities ,ex*ange    

,act ( #aicd 7#ae ,u4,s4,c4             
#gho7b77#f774  7,b7 ,rem$ies ,! rem$ies 
describ$ 9 ?is subp>agraph are ! foll[+3
 7i7 ,an ord] b>r+ ! s5ior executive f  
association ) any brok]1 deal]1 inve/m5t
 advis]1 municipal securities deal]1    
municipal advisor1 transf] ag5t1 or     
nationally recogniz$ /ati/ical rat+     
organization pursuant to section        
#ae7;b77#f7 ( ! ,securities ,ex*ange    
,act ( #aicd 7#ae ,u4,s4,c4 #gho7b77#f77
 or section #bjc7;f7 ( ! ,inve/m5t      
,advis]s ,act ( #aidj 7#ae ,u4,s4,c4    
#hj;b-#c7;f774  7ii7 ,a civil p5alty    
describ$ 9 section #bjc7;i77#b77;,c7 ( !
 ,inve/m5t ,advis]s ,act ( #aidj 7#ae   
,u4,s4,c4 #hj;b-#c7;i77#b77;,c77 or     
section #ba;,b7b77#c7 ( ! ,securities   
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghu-#b7;b77#c77 9 a c\rt ( ! ,unit$    
,/ates4  7e7 ,crim9al ref]rals ,if1 9 ! 
c\rse ( conduct+ an inve/igation requir$
 "u subsection 7c71 ! f9ancial          
regulatory ag5cy reasonably f9ds t a    
violation ( ,f$]al crim9al law may h    

occurr$1 t f9ancial regulatory ag5cy    
%all ref] ! matt] to ! ,attorney ,g5]al4
  7f7 ,report ,n lat] ?an #ahj days aft]
 ! date ( enactm5t ( ?is ,act1 ! ,vice  
,*airman = ,sup]vision ( ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 !  
,comptroll] ( ! ,curr5cy1 ! ,*airp]son (
 ! ,f$]al ,deposit ,insurance           
,corporation1 & ! ,*airman ( !          
,securities & ,ex*ange ,commission %all 
submit to ! ,*airman & ,rank+ ,memb] ( !
 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate1 ! ,*airman & ,rank+
 ,memb] ( ! ,committee on ,f9ancial     
,s]vices ( ! ,h\se ( ,repres5tatives1 ! 
,*airman & ,rank+ ,memb] ( ! ,committee 
on ,homel& ,security & ,gov]nm5tal      
,affairs ( ! ,s5ate1 & ! ,*airman &     
,rank+ ,memb] ( ! ,committee on         
,ov]sight & ,gov]nm5t ,re=m ( ! ,h\se ( 
,repres5tatives a report detail+ ! f9d+s
 & ! outcomes ( ! inve/igations requir$ 
"u subsection 7c7 & any crim9al ref]ral 
made to ! ,attorney ,g5]al4