Bill > HR3182

This bill aims to prohibit Members of Congress and their spouses from trading certain financial instruments during a Member's term of service, with some important exceptions. The bill defines "covered financial instruments" as investments in securities, security futures, and commodities, including those acquired through derivatives, but excludes diversified mutual funds, exchange-traded funds, Thrift Savings Plan investments, and U.S. Treasury securities. Members of Congress and their spouses would be prohibited from purchasing, selling, or holding these specific financial instruments while in office, though they can keep instruments already owned before taking office. The bill allows for investments held in a qualified blind trust, which is a financial arrangement where the Member does not have direct knowledge of or control over specific investments. Violations of these restrictions could result in civil fines. The new rules would take effect at the start of the 120th Congress, providing a clear timeline for implementation. The goal of this legislation is to prevent potential conflicts of interest and insider trading by ensuring that Members of Congress cannot use their privileged position to make personal financial gains through stock trading.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/3182/all-info