H.Res. 665 — Providing for consideration of the bill (H.R. 1908) to prohibit stock trading and ownership by Members of Congress and their spouses and dependent children, and for other purposes.

This section provides for the immediate consideration of H.R. 1908, a bill to prohibit stock trading and ownership by Members of Congress and their spouses and dependent children. It waives all points of order against consideration of the bill and against provisions in the bill as amended, considers as adopted the amendment specified in section 3 of the resolution, deems the bill as amended to be read, and orders the previous question on the bill as amended and any further amendments to final passage without intervening motions, except for one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services and one motion to recommit.

This section enacts the End Congressional Stock Trading Act. This section prohibits a Member of Congress, or the spouse or dependent child of a Member, from owning or trading any stock, bond, commodity, future, or other security (including hedge fund, derivative, option, or complex investment vehicle interests). Current Members must complete divestment within 180 days after enactment (2 years for hedge fund, venture capital, or other privately held complex interests); new Members must complete divestment within 180 days after assuming the status (2 years for such complex interests); and assets received during service (such as by inheritance) must be divested within 180 days after receipt. Exceptions permit ownership or trading of diversified widely held investment funds without conflicts of interest, Alaska Native Claims Settlement Act settlement common stock, U.S. Treasury bills/notes/bonds, investments in Federal/State/local government employee retirement plans, interests in small business concerns (as defined in 15 U.S.C. 632) without conflicts of interest, assets received as compensation from a spouse’s primary occupation, trading by a spouse or dependent child in the course of the spouse’s primary occupation, and holdings in qualified blind trusts. The Attorney General or Special Counsel may seek civil penalties of up to $100,000 per violation or 10 percent of the most recent combined value of the assets.