Bill > HR6141

This bill, the Insider Trading Prevention Act, aims to prohibit members of Congress and their spouses from buying or selling certain financial instruments, such as stocks and securities, with some exceptions. The key provisions of the bill are: 1. It defines "covered financial instruments" as securities, excluding U.S. Treasury bills, notes, bonds, exchange-traded funds, mutual funds, and government employee retirement plan investments. 2. It prohibits "covered individuals," which include members of Congress and their spouses, from buying or selling covered financial instruments, except for instances where a spouse acquires such instruments as compensation from their primary occupation. 3. It requires covered individuals to submit a pledge of compliance to the supervising ethics office and provide any necessary information to demonstrate compliance. 4. It imposes a fine of the higher of $25,000 per violation or the value of the covered financial instrument sold or purchased for individuals found to be in violation of the subchapter.