Bill > S3504

This bill, the Banning Insider Trading in Congress Act, amends the Ethics in Government Act of 1978 to prohibit Members of Congress and their spouses from holding, purchasing, or selling any "covered financial instruments," which include securities, security futures, and commodities. There are exceptions for the sale of covered financial instruments within 180 days of the bill's enactment or if the instruments are held in a qualified blind trust. The bill also requires Members of Congress to annually certify their compliance with these requirements, and authorizes the supervising ethics committees to implement and enforce the law, including by issuing rules, guidance, and assessing civil fines against those who violate it. Finally, the bill requires the Government Accountability Office to audit Members' compliance with the new provisions.

Military Affairs and Security

https://www.congress.gov/bill/117th-congress/senate-bill/3504/all-info