Ban on Stock Trading for Senior Officials and Full Financial Transparency.
This Act imposes strict restrictions on Members of Congress, the President, Supreme Court Justices, and Federal Reserve officials, banning them from trading stocks, cryptocurrencies, and other financial instruments to eliminate conflicts of interest. It also requires these officials to report any payments received from the federal government and mandates the creation of easily accessible, searchable databases for their financial disclosures. Citizens gain greater insight into the finances of key decision-makers, increasing government transparency.
Key points
High-ranking government officials (including Members of Congress, the President, Supreme Court Justices, and Fed officials) and their families are banned from buying, selling, or holding stocks, cryptocurrencies, futures, and commodities.
Officials subject to the ban must sell their existing financial assets within 120 days of the Act's enactment or taking office.
All financial and transaction disclosures must be filed electronically and made publicly available in searchable, downloadable online databases (covering Congress, the Executive Branch, the Judiciary, and the Federal Reserve).
A requirement is introduced for officials and their families to report receiving any payments, loans, or grants from the federal government (excluding salary and tax refunds).
Expired
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