Ban on Stock Trading for Congress Members and Immediate Families
This bill mandates that Members of Congress, their spouses, and dependent children must either sell off specific financial assets (stocks, commodities, futures) or place them into qualified blind trusts. This measure aims to prevent conflicts of interest, ensuring that legislative decisions are not influenced by personal financial gain, thereby boosting public confidence in government integrity. Non-compliance results in severe monthly financial penalties.
Key points
Members of Congress and their immediate families must divest or transfer most stock market investments into blind trusts within 120 days of the law's enactment.
The law prohibits Congress members and their families from acquiring new stocks, commodities, or futures while the member is in office.
Failure to comply results in a civil penalty equal to the Member's monthly salary, imposed every 30 days until compliance is achieved.
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