The PELOSI Act would ban Members of Congress and their spouses from buying, selling, or holding individual stocks, bonds, commodities, and similar investments while in office. The law excludes diversified mutual funds, exchange-traded funds, Treasury securities, and spousal income from employment. Current members would have 180 days from the law's enactment to divest prohibited holdings, while newly elected members would have 180 days from taking office. The House and Senate ethics committees would enforce the ban through annual compliance certifications (published publicly), civil fines of up to 10 percent of the investment's value for violations, and disgorgement of any profits made from prohibited trades. The Government Accountability Office would audit compliance within two years of enactment, and members could appeal fines through a floor vote.
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