Federal agencies would release Epstein-linked records and investigate financial institutions

Federal financial regulators would send covered records to congressional leaders and publish them online in searchable, downloadable form. The records must relate to Jeffrey Epstein, Ghislaine Maxwell, or an associate, and concern a financial institution with known or alleged ties to them. Regulators must remove or withhold parts that contain victims’ identifying information or personal or medical files. For each removal or withholding, the agency must provide a written explanation. Regulators would send Congress physical copies within 90 days after enactment and publish records within 120 days.

Federal financial regulators would investigate covered institutions and senior executives, and refer possible federal crimes to the Attorney General. Investigations would cover financial institutions with known or alleged ties to Epstein, Maxwell, or an associate, and senior executives, such as directors and officers or employees with substantial management responsibilities. Investigations would examine possible violations of federal banking, securities, and anti-money-laundering laws, related business and oversight, controls, communications, and any destroyed records. An agency must refer a matter if it reasonably finds that a federal crime may have occurred. Investigations would begin immediately after enactment. Within 180 days, agency leaders would report their findings, outcomes, and any criminal referrals to specified congressional leaders.

Banking regulators would impose, and the Securities and Exchange Commission would seek or impose, one or more specified penalties or industry bans for certain executives. The rules cover executives of insured banks and certain securities firms, advisers, and related businesses. The regulator must find, after notice and an opportunity for a hearing, that an executive violated specified laws in connection with Epstein’s accounts or transactions, or engaged in conduct that otherwise supports a listed sanction. The available remedies include barring an executive from work in the covered industries and imposing a civil penalty.