Stock Trading Ban for Congress Members and Families
This act aims to boost public trust by prohibiting members of Congress, their spouses, and dependents from owning or trading stocks and other investments. Citizens can expect greater transparency and integrity from their representatives, as this eliminates potential conflicts of interest. These changes are designed to ensure that political decisions are made in the public interest, not for personal financial gain.
Key points
Members of Congress, their spouses, and dependent children will be required to divest covered investments within 180 days (or 90 days of becoming a covered individual).
The ban covers securities, commodities, futures, and comparable economic interests, but excludes widely held diversified investment funds, U.S. Treasury bills, and certain other exceptions.
Violations will result in financial penalties equal to 10% of the investment's value and disgorgement of profits from illegal transactions, payable to the U.S. Treasury.
Information on assessed fines will be publicly published by supervising ethics offices, enhancing transparency and accountability.
Status:
Introduced
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