Sec. 210. Return of profits and bonuses
171 words·~1 min read·
/bill/116/hr/2513/eh/section-210·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5322 of title 31, United States Code, is amended by adding at the end the following: A person convicted of violating a provision of (or rule issued under) the Bank Secrecy Act shall— in addition to any other fine under this section, be fined in an amount equal to the profit gained by such person by reason of such violation, as determined by the court; and if such person is an individual who was a partner, director, officer, or employee of a financial institution at the time the violation occurred, repay to such financial institution any bonus paid to such individual during the Federal fiscal year in which the violation occurred or the Federal fiscal year after which the violation occurred. .
The amendment made by subsection
(a)may not be construed to prohibit a financial institution from requiring the repayment of a bonus paid to a partner, director, officer, or employee if the financial institution determines that the partner, director, officer, or employee engaged in unethical, but non-criminal, activities.