Sergei Magnitsky Rule of Law Accountability Act of 2012

Bill: 112-s-1039
Sponsor: Sen. Cardin, Benjamin L. [D-MD]
Introduced: 2011-05-19 in the Senate
Policy area: International Affairs
Subjects: Administrative law and regulatory procedures
Bank accounts, deposits, capital
Congressional oversight
Department of the Treasury
Detention of persons
Evidence and witnesses
Fraud offenses and financial crimes
Government ethics and transparency, public corruption
Government studies and investigations
Human rights
Rule of law and government transparency
Russia
Sanctions
U.S. and foreign investments
Violent crime
Visas and passports

Summary:
action_date: 2011-05-19
text: 
Sergei Magnitsky Rule of Law Accountability Act of 2011 - Directs the Secretary of State to publish and update a list of each person the Secretary has reason to believe: (1) is responsible for the detention, abuse, or death of Sergei Magnitsky, participated in related liability concealment efforts, or committed those frauds discovered by Sergei Magnitsky, including conspiring to defraud the Russian Federation of taxes on corporate profits through fraudulent transactions and lawsuits against the Hermitage foreign investment company and to misappropriate entities owned or controlled by Hermitage; or (2) is responsible for extrajudicial killings, torture, or other human rights violations committed against individuals seeking to promote human rights or to expose illegal activity carried out by officials of the government of the Russian Federation. 
 
Makes an alien on such list ineligible to enter or be admitted to the United States. Revokes any visa issued for such person. Authorizes the Secretary to waive such prohibition if in the U.S. national interest. Requires congressional notification of any such waiver.
 
Directs the Secretary of the Treasury to: (1) instruct domestic financial institutions and agencies to take specified measures if the Secretary makes a money laundering determination relating to such conspiracy, and (2) freeze and prohibit U.S. property transactions of an individual who is on the list or who acts as an agent for a listed individual. Authorizes the Secretary to waive such actions if in the U.S. national interest. Requires congressional notification of any such waiver.
 
Subjects a person who violates, attempts to violate, or causes a violation of such money laundering or asset provisions to specified penalties. 
 
Directs the Secretary of the Treasury to prescribe regulations requiring each financial institution that is a U.S. person to: (1) audit the assets within its possession or control to determine whether any such assets are required to be frozen pursuant to this Act, and (2) submit a report to the the Secretary containing the audit's results and a certification that such assets have been frozen. Subjects a financial institution that violates such regulations to specified penalties.

action_date: 2012-07-23
text: 
Sergei Magnitsky Rule of Law Accountability Act of 2012 - Directs the Secretary of State to publish and update a list of each person the Secretary has reason to believe: (1) is responsible for, or benefitted financially from, the detention, abuse, or death of Sergei Magnitsky, participated in related liability concealment efforts, or was involved in the criminal conspiracy uncovered by Sergei Magnitsky; or (2) is responsible for extrajudicial killings, torture, or other human rights violations committed against individuals seeking to promote human rights or to expose illegal activity carried out by officials of the government of the Russian Federation. 
 
Makes an alien on such list ineligible to enter or be admitted to the United States. Revokes any visa issued for such person. 
 
Authorizes the Secretary to waive such prohibition if in the U.S. national security interest or if necessary for compliance with the Agreement between the United Nations (U.N.) and the United States of America regarding the Headquarters of the United Nations. Requires congressional notification of any such waiver.
 
Directs the Secretary of the Treasury to freeze and prohibit U.S. property transactions of an individual who is on the list if such property and property interests are in the United States, come within the United States, or are in or come within the control of a U.S. person or entity. Authorizes the Secretary to waive such actions if in the U.S. national security interest. Requires congressional notification of any such waiver.
 
Directs the Secretary and the Secretary of the Treasury to report annually to Congress regarding actions taken pursuant to this Act.


Legislative actions:
action_date: 2012-07-23
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 469.
action_date: 2012-07-23
text: Committee on Foreign Relations. Reported by Senator Kerry with an amendment in the nature of a substitute. With written report No. 112-191.
action_date: 2012-07-23
text: Committee on Foreign Relations. Reported by Senator Kerry with an amendment in the nature of a substitute. With written report No. 112-191.
action_date: 2012-06-26
text: Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2011-05-19
text: Read twice and referred to the Committee on Foreign Relations. (text of measure as introduced: CR S3181-3182)
action_date: 2011-05-19
text: Sponsor introductory remarks on measure. (CR S3179-3181)
action_date: 2011-05-19
text: Introduced in Senate