Bill > S1393

This bill, the Ban Conflicted Trading Act, prohibits members of Congress and certain congressional officers or employees from purchasing or selling specific investments, entering into transactions that create a net short position in a security, or serving as an officer or board member of any for-profit entity. The bill defines key terms like "covered investment" and "covered person" and provides exceptions, such as allowing covered persons to retain investments held before taking office and to place their securities in a qualified blind trust. The bill also outlines the administration and enforcement of these provisions, including the role of the Senate and House Ethics Committees in issuing guidance and imposing civil penalties for noncompliance.