Ban on Stock Trading for Congress, President, and Vice President (ETHICS Act)
This Act amends Title 5 to prevent Members of Congress, the President, the Vice President, and their families from trading or owning covered investments, including stocks, commodities, and digital assets. It requires the divestiture of these assets within specific timeframes and mandates the dissolution of existing qualified blind trusts holding such investments. The bill also establishes civil penalties for violations, a $500 fine for failure to report transactions under the STOCK Act, and requirements for the electronic public availability of financial disclosure reports.
Key points
Ban on Ownership and Trading: Covered persons and their families are prohibited from purchasing or selling individual stocks, commodities, futures, and digital assets (with exceptions for diversified funds).
Mandatory Divestiture: Officials and their families must divest prohibited assets within 120 days of the effective date or commencing a new term of service.
End of Blind Trusts: Existing qualified blind trusts holding covered investments must be dissolved, and the assets divested.
Penalties and Transparency: A penalty of $500 is assessed for failure to file transaction reports, and financial disclosure reports must be made publicly available online in a searchable format.
Expired
Citizen Poll