Bill > S265

This bill, the Financial Services Conflict of Interest Act, amends existing laws to address potential conflicts of interest stemming from executive branch employees receiving compensation from non-government sources, the "revolving door" between financial services regulators and the private sector, and the involvement of former government contractors in federal procurement decisions. Key provisions include: - Expanding restrictions on federal employees accepting compensation from non-government sources, such as prohibiting "bona fide" pension or retirement plans that are contingent on accepting a government position. - Requiring financial services regulators to recuse themselves from matters providing direct financial benefits to their former employers or clients, with limited waivers allowed in exceptional circumstances. - Prohibiting financial services regulators from participating in matters involving entities with whom they are negotiating future employment. - Expanding restrictions on lobbying activities by former financial services regulators. - Expanding prohibitions on former government procurement officers accepting compensation from contractors they previously worked with. - Imposing additional "revolving door" restrictions on financial services regulators moving to the private sector, including bans on representing clients before their former agencies. The bill aims to address concerns about the independence of financial regulators and the potential for undue influence in government contracting and decision-making.

Military Affairs and Security

https://www.congress.gov/bill/115th-congress/senate-bill/265/all-info