New Rules for Officials: No Stock Trading, More Transparency
This act introduces stricter rules for high-ranking government officials, members of Congress, and their families to prevent conflicts of interest. Citizens will gain greater transparency into officials' finances, aiming to increase public trust in government. Changes include a ban on stock trading and mandatory reporting of government payments.
Key points
Bans stock and other financial instrument trading for Members of Congress, the President, Vice President, Supreme Court Justices, Federal Reserve Board members, and their spouses and dependent children.
Requires officials and their families to report all payments received from the federal government, including loans, contracts, and grants.
Increases transparency: all financial and transaction reports from officials will be publicly available online in a searchable format.
Imposes significant financial penalties for failing to report required information or violating the stock trading ban.
Status:
Introduced
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