PUBLIC LAW 103-204—DEC. 17, 1993 107 STAT. 2375 " (ii) which are initiated or pending during the period covered by the report. "(11) MANAGEMENT INFORMATION SYSTEM. —The Corporation shall maintain an effective management information system capable of providing complete and current information to the extent the provision of such information is appropriate and cost-effective. "(12) INTERNAL CONTROLS AGAINST FRAUD, WASTE, AND ABUSE.—The Corporation shall maintain effective internal controls designed to prevent fraud, waste, and abuse, identify any such activity should it occur, and promptly correct any y such activity. "(13) FAILURE TO APPOINT CERTAIN OFFICERS OF THE COR- PORATION.— The faihire to fill any position established under this section or any vacancy in any such position, shall be treated as a failure to comply with the requirements of this subsection for purposes of subsection (i)(4). "(14) REPORTS. — "(A) DISCLOSURE OF EXPENDITURES. — The Corporation shall include in the annual report submitted pursuant to subsection (k)(4) an itemization of the expenditures of the Corporation during the year for which funds provided pursuant to subsection (i)(3) were used. "(B) PUBLIC DISCLOSURE OF SALARIES. —The Corporation shall include in the annual report submitted pursuant to subsection (k)(4) a disclosure or the salaries and other compensation paid during the year covered by the report to directors and senior executive officers at any depository institution for which the Corporation has been appointed conservator or receiver. "(15) MINORITY- AND WOMEN-OWNED BUSINESSES CONTRACT PARITY GUIDELINES. —The Corporation shall establish guidelines for achieving the goal of a reasonably even distribution of contracts awarded to the various subgroups of the class of minority- and women-owned businesses and minority- and women-owned law firms whose total number of certified contractors comprise not less than 5 percent of all minority- and women-owned certified contractors. The guidelines may reflect the regional and local geographic distributions of minority subgroups. The distribution of contracts should not be accomplished at the expense of any eligible minority- or womenowned business or law firm in any subgroup that falls below the 5 percent threshold in any region or locality. "(16) CONTRACT SANCTIONS FOR FAILURE TO COMPLY WITH SUBCONTRACT AND JOINT VENTURE REQUIREMENTS.— THE COR- poration shall prescribe regulations which provide sanctions, including contract penalties and suspensions, for violations by contractors of requirements relating to subcontractors and joint ventures. "(17) MINORITY PREFERENCE IN ACQUISITION OF INSTITU- TIONS IN PREDOMINANTLY MINORITY NEIGHBORHOODS.— "(A) IN GENERAL. — In considering offers to acquire any insured depository institution, or any branch of an insured depository institution, located in a predominantly minority neighborhood (as defined in regulations prescribed under subsection (s)), the Corporation shall give preference to an offer from any minority individual, minority-owned busi-
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