Providing for consideration of the bill (H.R. 1908) to prohibit stock trading and ownership by Members of Congress and their spouses and dependent children, and for other purposes.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This resolution proposes legislation (H.R. 1908) to prohibit Members of Congress, their spouses, and dependent children from trading stocks or owning investments. The bill would establish new rules and penalties for these activities, aiming to reduce potential conflicts of interest. It also creates a system for divestment and provides for supervisory oversight by ethics offices.
Key provisions
- Prohibits Members of Congress, their spouses, and dependent children from owning or trading covered investments.
- Defines ‘covered investment’ to include various securities, commodities, and derivatives.
- Establishes a divestment timeline, with varying deadlines based on the individual’s status.
- Creates a certificate of divestiture program to track compliance.
- Provides exemptions for certain family trusts and occupational trades.
- Sets penalties for violations, including fees and disgorgement of profits.
- Restricts Members of Congress from paying penalties using campaign funds.
- Requires ethics offices to publish information about assessed fines.
Who is affected
- Members of Congress
- Spouses of Members of Congress
- Dependent children of Members of Congress
- Financial industry
- Investors
Notable changes
Bill text
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Sponsors
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1 on record
Primary sponsor
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