Bill > HR859

This bill, the Financial Services Conflict of Interest Act, aims to address conflicts of interest that can arise from government employees receiving bonuses or compensation from private sources, the "revolving door" between financial regulators and the private sector, and the involvement of former contractor employees in government procurements. Key provisions include: - Expanding restrictions on federal employees accepting compensation from non-government sources, particularly prohibiting "bona fide" retirement or severance plans that are contingent on taking a government job. - Requiring financial services regulators above a certain grade level to recuse themselves from matters that would provide a direct and substantial financial benefit to a recent former employer or client, with limited exceptions. - Prohibiting financial services regulators from participating in matters involving individuals or entities with whom they are negotiating future employment. - Expanding restrictions on lobbying activities by former financial services regulators. - Prohibiting federal procurement officials from being involved in contracts with their former employers for a 2-year period. - Imposing additional "revolving door" restrictions on financial services regulators moving to the private sector, including limits on representing clients before their former agencies. The overall goal is to address concerns about the independence and integrity of financial regulation and government contracting.

Government Affairs, Justice

https://www.congress.gov/bill/115th-congress/house-bill/859/all-info