Bill > S2463

This bill: 1. Bans certain senior government officials, including the President, Vice President, and their spouses and dependent children, as well as senior executive branch employees, from holding, purchasing, selling, or conducting transactions involving covered financial interests like stocks, security futures, and commodities (with some exceptions like diversified funds and Treasury bonds). This is intended to eliminate potential conflicts of interest between their personal financial holdings and government policy decisions. 2. Requires certain senior government officials to report payments they, their spouses, or dependent children receive from the federal government, such as grants, contracts, or loans, within 30-45 days of the payment. Failure to report can result in a $500 fine. 3. Imposes a $500 fine for each failure to file a required transaction report under the STOCK Act, which prohibits insider trading by members of Congress and certain executive branch officials. 4. Bans members of Congress, their spouses, and dependent children from holding, purchasing, selling, or creating net short positions in covered financial interests like stocks and commodities (with some exceptions). It requires divestiture of existing covered financial interests within 180 days. 5. Requires electronic filing and online public availability of financial disclosure forms for members of Congress and very senior executive branch officials in a searchable, downloadable format that is accessible.

Military Affairs and Security

https://www.congress.gov/bill/118th-congress/senate-bill/2463/all-info