Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill prohibits Members of Congress from making financial investments or transactions that benefit foreign adversaries of the United States, including China, Cuba, Iran, North Korea, Russia, and Venezuela. The ban covers direct and indirect investments such as stocks, bonds, commodities, loans, gifts, and derivative financial instruments acquired through synthetic means. The Attorney General can bring civil lawsuits against any Member of Congress who violates this rule, with penalties of $5,000 for a first violation, $10,000 for a second, and $15,000 for each subsequent violation. The bill applies to all sitting Members of Congress—Senators, Representatives, Delegates, and Resident Commissioners—during their terms of service and aims to prevent lawmakers from having financial conflicts of interest with nations designated as U.S. adversaries.
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