Ban on Stock Trading for Members of Congress and Spouses During Term.
This Act establishes a strict prohibition on Members of Congress and their spouses from holding, buying, or selling individual stocks, commodities, and certain financial instruments while in office. The goal is to enhance public trust by eliminating conflicts of interest and the potential use of confidential information. The rules exempt diversified mutual funds, ETFs, and Treasury bonds.
Key points
Members of Congress and their spouses are prohibited from trading individual stocks, commodities, or derivatives, excluding investments in diversified funds.
Violations result in the disgorgement of profits to the Treasury, inability to deduct losses for tax purposes, and potential civil fines.
Mandatory public certification of compliance and required audits by the ethics office at least every two years.
Status:
Expired
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