This bill would prohibit Members of Congress, their spouses, and dependent children from buying individual stocks and other securities tied to publicly traded companies while in office. The legislation includes a requirement that any covered individual must publicly announce their intent to sell such investments 7 to 14 days in advance, giving the public advance notice of their trades. The bill exempts certain investments like diversified mutual funds, small business interests, and properly structured trusts where the congressional member has no control over investment decisions. Violations would result in significant penalties—the greater of $2,000 or 10 percent of the transaction value, plus any profits gained from the investment—and violators would be required to sell any unlawfully purchased securities. The law takes effect 180 days after passage.
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