arrow_back Back to App

Federal Officials' Investment Restrictions and Enhanced Financial Transparency.

The PORTFOLIO Act aims to restrict federal officials, including members of Congress and the President, from trading in or owning most investments like securities, commodities, and cryptocurrencies. It introduces new rules for financial disclosure, increasing transparency and imposing penalties for violations. This is intended to prevent the use of public office for personal financial gain.
Key points
Federal officials, including the President and Members of Congress, are prohibited from owning or trading most investments, such as securities, commodities, or cryptocurrencies.
Exceptions include widely diversified investment funds, U.S. Treasury bonds, or assets held in qualified blind trusts.
New rules require faster and more detailed disclosure of income, assets, and financial transactions, including cryptocurrencies.
Higher financial penalties are introduced for late filing of reports and violations of trading restrictions, with penalty information made publicly available.
Officials have a set period to divest prohibited investments or place them in a blind trust after the act's enactment or assuming office.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_9216
Sponsor: Rep. Schweikert, David [R-AZ-6]
Process start date: 2022-10-21
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

PORTFOLIO Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9216.

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 2022-10-21.

What are the main provisions?

Key points include:

  • Federal officials, including the President and Members of Congress, are prohibited from owning or trading most investments, such as securities, commodities, or cryptocurrencies.
  • Exceptions include widely diversified investment funds, U.S. Treasury bonds, or assets held in qualified blind trusts.
  • New rules require faster and more detailed disclosure of income, assets, and financial transactions, including cryptocurrencies.
  • Higher financial penalties are introduced for late filing of reports and violations of trading restrictions, with penalty information made publicly available.
  • Officials have a set period to divest prohibited investments or place them in a blind trust after the act's enactment or assuming office.
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. Schweikert, David [R-AZ-6].

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