The No Stock Act would ban stock trading and certain financial investments for senior U.S. government officials and their families. The bill applies to Members of Congress, the President, Vice President, Supreme Court Justices, and Federal Reserve leaders, as well as their spouses and dependent children. These covered individuals would be prohibited from buying, selling, or holding stocks, futures, commodities, cryptocurrencies, and certain other financial instruments, and would have 120 days from either taking office or the law's enactment to divest any existing holdings. The bill includes narrow exceptions for diversified investment funds, U.S. Treasury securities, and spousal compensation from their own employers. Officials who knowingly violate the restrictions would face fines of at least 10 percent of the value of the prohibited holdings, and ethics offices would be required to publicly report all divestiture extension requests and decisions.
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