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New Rules for Officials: No Stock and Crypto Trading

This act introduces strict limitations for high-ranking government officials, members of Congress, and their families regarding the ownership and trading of stocks, cryptocurrencies, and other investments. The goal is to prevent conflicts of interest and increase public trust. Citizens will benefit from greater transparency in the finances of individuals holding important public positions.
Key points
Prohibition on owning and trading stocks, cryptocurrencies, and other investments for officials, their spouses, and dependent children.
Mandatory divestment of prohibited investments or placement into qualified blind trusts within 180 days.
Increased financial transparency: faster and more detailed reporting of transactions, and public disclosure of penalties and waivers.
Higher financial penalties for late filings and violations of trading restrictions, with potential for further legal sanctions.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_8990
Sponsor: Rep. Lofgren, Zoe [D-CA-19]
Process start date: 2022-09-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Combatting Financial Conflicts of Interest in Government Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8990.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-09-28.

What are the main provisions?

Key points include:

  • Prohibition on owning and trading stocks, cryptocurrencies, and other investments for officials, their spouses, and dependent children.
  • Mandatory divestment of prohibited investments or placement into qualified blind trusts within 180 days.
  • Increased financial transparency: faster and more detailed reporting of transactions, and public disclosure of penalties and waivers.
  • Higher financial penalties for late filings and violations of trading restrictions, with potential for further legal sanctions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lofgren, Zoe [D-CA-19].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Courts and Law Economy