ExecutiveOrdersEO
EO 13271Executive OrderG.W. Bush · R

Executive Order 13271

Establishment of the Corporate Fraud Task Force

This executive order creates a Corporate Fraud Task Force within the Department of Justice to coordinate investigation and prosecution of significant financial crimes including securities fraud, accounting fraud, and money laundering. The Task Force brings together senior DOJ officials, FBI leadership, key U.S. Attorneys from major financial districts, and heads of regulatory agencies like the SEC and Treasury.

Federal Register Open PDF 67 FR 46091

Impact dates

  1. first meeting of the Task Force convened

Key directives

  • Attorney General shall immediately establish Corporate Fraud Task Force within DOJ
  • Deputy Attorney General shall convene first meeting within 10 days of July 9, 2002
  • Task Force to provide direction for investigation and prosecution of significant securities fraud, accounting fraud, mail/wire fraud, money laundering, and tax fraud
  • Task Force to recommend resource allocation and reallocation for financial crime prosecution
  • Task Force to make recommendations to President through Attorney General for interagency cooperation, federal-state-local cooperation, regulatory changes, and legislative measures
  • Task Force terminates only upon direction by President or with Presidential approval by Attorney General

Who is ordered

Timeline

Immediate

  • Task Force establishment by Attorney General
  • first meeting convened within 10 days

Near term (90d)

  • initial resource allocation recommendations
  • early coordination protocols among member agencies

Long term

  • ongoing investigation and prosecution of significant financial crimes
  • periodic recommendations to President and Congress for policy changes
  • Task Force continues until terminated by President or Attorney General with Presidential approval

Risks & tensions

  • Task Force subject to Attorney General authority 'without regard to any other provision' — potential tension with interagency members from independent commissions (SEC, CFTC, FERC, FCC)
  • Significance determination delegated solely to Deputy Attorney General — no objective criteria specified, creating discretion risk
  • No explicit sunset or reporting requirements beyond discretionary 'from time to time' recommendations
  • Section 5 disclaimer limits enforceability of any Task Force actions by private parties
Executive Order 13271: Establishment of the Corporate Fraud Task Force · Executive Orders