An amendment numbered 7 printed in the Congressional Record to add a new section regarding treatment of bonuses for finacial sector employees.

1. Adds SEC. 4. TREATMENT OF BONUSES FOR FINANCIAL SECTOR EMPLOYEES at the end of the bill

   Adds a section

   Inserted: SEC. 4. TREATMENT OF BONUSES FOR FINANCIAL SECTOR EMPLOYEES.

   Inserted: The Federal regulatory agencies for banking and financial institutions and for securities regulation shall jointly issue regulations that--

   Inserted: (1) require all new employees of any institution, company, or entity regulated by such a regulatory agency, upon hiring, to sign a contract stipulating that any bonus income provided to such employee will be paid in securities or obligations that such institution, company, or entity creates or deals in in its regular course of business;

   Inserted: (2) require that any such bonuses paid shall be held in escrow for such period as may be necessary to determine whether the such securities or obligations created or dealt with by such institution, company, or entity are of substandard quality or cannot be readily identified as an asset or a liability;

   Inserted: (3) require such escrow accounts to be portable so that an employee may change jobs without hindrance; and

   Inserted: (4) prohibit use of any such bonuses to hedge against future losses.

   Original wording

   At the end of the bill, add the following new section:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed