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Federal Officials' Investment Restrictions and Enhanced Financial Transparency.

This act aims to boost public trust by restricting federal officials, including the President, Vice President, and Members of Congress, from trading in stocks, commodities, cryptocurrencies, and other investments. It introduces new rules for owning and divesting such assets and enhances the transparency of their financial disclosures. Citizens will gain better insight into the finances of individuals holding important public offices.
Key points
Federal officials, including the President and Members of Congress, will be prohibited from purchasing or owning most stocks, commodities, cryptocurrencies, and other investments.
Existing investments covered by the new rules must be divested or placed into special, independent blind trusts within 180 days.
Increased transparency: information on officials' transactions and assets will be made public more quickly and broadly.
Higher financial penalties are introduced for failing to file required financial disclosures on time and for violating the new trading restrictions.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_389
Sponsor: Rep. Schweikert, David [R-AZ-1]
Process start date: 2023-01-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PORTFOLIO Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_389.

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 2023-01-17.

What are the main provisions?

Key points include:

  • Federal officials, including the President and Members of Congress, will be prohibited from purchasing or owning most stocks, commodities, cryptocurrencies, and other investments.
  • Existing investments covered by the new rules must be divested or placed into special, independent blind trusts within 180 days.
  • Increased transparency: information on officials' transactions and assets will be made public more quickly and broadly.
  • Higher financial penalties are introduced for failing to file required financial disclosures on time and for violating the new trading restrictions.
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-1].

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 2025-12-25.

CATEGORIES

Courts and Law Economy