Repealed Corporate Crimes Act

[Westray]

A
BILL
To

Simplify Corporate Crimes Regulation​

The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title and Enactment
(1) This Act may be cited as the "Corporate Crimes Act"
(2) This Act shall be enacted immediately upon its signage.

2 - Purpose
(1) The purpose of this act is to simplify and merge financial and corporate crimes into one act.
(2) This bill merges several acts, and adds the financial crime of money laundering.

3 - Consolidation
(1) Hereby merges the Antitrust Act into this act, and adds it as a reply.
(2) Hereby merges the Second ICE Act into this act, and adds it as a reply.
(3) Hereby merges the Criminal Antitrust Anti-retaliation Act into this act, and adds it as a reply.
Owner Veto - Forum limitations

4 - Antitrust Laws
(1) Market Allocation: Any sort of deal wherein two or more businesses agree to allocate “territory” to one another to prevent regional competition.
(2) Bid Rigging: Any sort of deal wherein two or more businesses and/or persons agree to not bid against one another to minimize their losses.
(3) Price Fixing: Any sort of deal wherein two or more businesses agree to keep prices at a certain point to avoid price competition.
(4) Monopolization: Any sort of deal wherein two or more businesses seek to merge into a single entity or owner-subsidiary relationship that controls a disproportionately large amount of market share in any particular market.
5) A deal wherein bidders, businesses or auctioneers enter into a deal with each other to maximise profits of auctions is hereby illegal.

5 - Securities Laws
(1) Market Manipulation: Any act to artificially inflate or deflate the value of a company or stock for personal gain.
(2) Insider trading: Buying or selling a stock based on non-public information that would substantially impact a trader’s decision to buy or sell.

6 - Miscellaneous Financial Crimes
(1) Corporate Espionage: Any parties participating in, or accessory to the gathering, infiltration, or compromise of any sensitive company information that has not already been released to the public under the instruction of the company's controlling interest.
(2) Money Laundering: Any act to conceal funds illegally obtained, through commercial transactions, business deals, or any means otherwise.

7 - Whistleblowers
(1) No employer may discharge, demote, suspend, threaten, harass, or in any other manner discriminate against a covered individual in the terms and conditions of employment of the covered individual because of any lawful act done by the covered individual to report information regarding a violation of a corporate crime.

8 - Punishments
(1) The DEC, DOJ, and Office of the Attorney General, shall be given jurisdiction to investigate, fine, and prosecute, alleged perpetrators of these crimes.
(2) The court may order the dissolution or split of businesses who are found guilty of these crimes.
(3) The additional punishments for each crime shall be as follows:
(a) A violation of any antitrust law may include fines of up to $10,000 and 10 minutes jail.
(b) A violation of market manipulation may include fines of up to $5000.
(c) A violation of insider trading may include fines of up to $1000.
(d) A violation of corporate espionage may include fines of up to $10,000 or up to 15% of the company balance.
(e) A violation of money laundering may includes fines of up to $5000 and the money laundered.

 

[HugeBob]

This bill is hereby granted assent and is signed into law.​

 

[AndreyMia]

House Vote: 8-0-1
Senate Vote: 5-0-0

A
BILL
TO

Amend the Corporate Crimes Act​

The people of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title and Enactment

1. This Act may be cited as ‘Corporate Crimes Amendment Act’
2. This Act shall be enacted immediately upon its signage.
3. This Act was co-authored by Speaker of the House AndreyMia and Treasurer ChAkselsn.
4. This Act was co-sponsored by Rep. Th0re_

2 - Purpose

1. As it stands, the Corporate Crimes Act only protects businesses from rigging bids, while it is still possible for private persons to rig bids.

3 - Terms

1. Section 4, subsection 2 of the Corporate Crimes Act changes from Bid Rigging: Any sort of deal wherein two or more businesses agree to not bid against one another to minimize their losses. to Bid Rigging: Any sort of deal wherein two or more businesses and/or persons agree to not bid against one another to minimize their losses.
2. Adds subsection 5: (5) A deal wherein bidders, businesses or auctioneers enter into a deal with each other to maximise profits of auctions is hereby illegal.

 

[Austin27]

Presidential Assent

This bill has been granted Presidential Assent and is hereby signed into law.

 

[Hamhamham420]

House Vote: 14-0-0
Senate Vote: 5-0-1

A
BILL
To​

Amend the Corporate Crimes Act

The people of Democracy Craft, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title and Enactment
(1) This Act may be cited as the “Corporate Crimes Act”.
(2) This Act shall be enacted immediately upon its signage.
(3) The Act has been co-sponsored by: ReinausPrinzzip

2 - Reasons
(1) People are confused about this bill's language and often disagree about the interpretation

3 - Enactments
(1) change "Any sort of deal wherein two or more businesses agree to not bid against one another to minimize their losses.”
Per Offence: Up to $10,000 Fine + 10 minutes jail.”
to
"Any sort of deal wherein two or more businesses agree to not bid against one another to minimize their losses.
Per Offence: Up to $10,000 Fine + 10 minutes jail + Full reimbursement of initial funds.”

 

[Austin27]

Presidential Assent

This bill has been granted Presidential Assent and is hereby signed into law.

 

[ReinausPrinzzip]

A
BILL
To

Amend the Corporate Crimes Act

The people of Democracy Craft, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title and Enactment
(1) This Act may be cited as the “Insider Trading Repair Act.”.
(2) This Act shall be enacted immediately upon its signage.
(3) Co-Sponsored by: rep. 1950minecrafter, rep. Hamhamham420.

2 - Reasons for Proposal
(1) For a more precise description of the punishment to reduce confusion in the courtroom.
(2) The investor could make more profit than he has to pay a fine.

3 - Amending the punishment for insider trading.

From:

11.3 - Insider Trading
Buying or selling a stock based on non-public information that would substantially impact a trader’s decision to buy or sell.
Per Offence: Up to $1000 Fine

To:

11.3 - Insider Trading
Buying or selling a stock based on non-public information that would substantially impact a trader’s decision to buy or sell.
Per Offence: Up to $3000 Fine + paying back all the profit achieved by the insider trading.

 

[Austin27]

Presidential Assent

This bill has been granted Presidential Assent and is hereby signed into law.