“To amend title 5, United States Code, to prohibit Members of Congress and their spouses from trading stock, and for other purposes.”
No CRS summary available for this bill.
This section prohibits Members of Congress and their spouses from holding, purchasing, or selling covered financial instruments during the Member's term of service, subject to civil fines under existing law (5 USC 13106(a)), effective beginning with the 120th Congress (i.e., January 3, 2027). Covered financial instruments include securities (as defined in 15 USC 78c(a)), security futures, commodities (as defined in 7 USC 1a), and comparable synthetic interests (e.g., via derivatives such as options or warrants), excluding diversified mutual funds or exchange-traded funds, Thrift Savings Plan investments, and U.S. Treasury bills, notes, or bonds. Exceptions apply to (1) instruments held immediately before the Member's term begins and (2) instruments held in a qualified blind trust. (Thus, existing holdings must generally be divested, placed in blind trusts, or retained only if grandfathered, while prohibiting new purchases or sales.)