Ban on Investments and Lobbying for Federal Officials
This act aims to restore trust in public servants by prohibiting them from owning certain investments and restricting their lobbying activities after leaving office. Citizens can expect greater transparency and reduced conflicts of interest among public officials, potentially leading to fairer decisions. These changes are designed to ensure officials act solely in the public interest, not for personal financial gain.
Key points
Federal officials and their family members are prohibited from owning or trading specific investments (e.g., securities, commodities, futures).
Mandatory divestment of prohibited investments within 90 days of the act's enactment or assuming office.
Significant financial penalties for violations, including loss of monthly salary, and public disclosure of names of non-compliant individuals.
Members of Congress and other high-ranking officials face a lifetime ban on lobbying after leaving office, both for the U.S. government and foreign entities.
Restrictions on outside earned income for Members of Congress and a ban on serving on most corporate boards, with exceptions for non-profit organizations.
Expired
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