arrow_back Trending Legislation
Share share

Ban on Investments for Senior Federal Officials and Their Families

This act introduces new rules for senior federal employees, their spouses, and dependent children. It prohibits them from holding, purchasing, or selling certain financial instruments to prevent conflicts of interest. The goal is to increase public trust in government by ensuring that officials' decisions are not driven by personal financial gain.
Key points
Senior federal employees, their spouses, and dependent children are prohibited from holding or trading specific stocks, bonds, or commodities.
Exceptions include diversified mutual funds, U.S. Treasury bonds, and assets held in qualified blind trusts.
Violations lead to disgorgement of profits, financial penalties, and inability to deduct losses from income tax.
Officials must annually certify compliance, and these certifications will be publicly available.
Ethics offices will oversee compliance and impose fines, with their actions being transparent.
article Official text account_balance Process page notifications_active Track this Bill
gavel
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.
Additional Information
Dismantling Investments in Violation of Ethical Standards through Trusts Act
Print number: HR 8754
Sponsor: Rep. Cloud, Michael [R-TX-27]
Process start date: 2022-08-30