Dismantling Investments in Violation of Ethical Standards through Trusts Act
Congress proposes ban on stock-like trading for top federal staff and families, with public compliance reports
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Bans Senior Executive Service employees, and their spouses and dependent kids, from owning or trading most individual stocks, commodities, and similar products while the employee is in the job.
- Allows certain safer or broader investments, like diversified mutual funds and diversified exchange-traded funds, plus U.S. Treasury bills, notes, and bonds.
- Gives people 180 days to sell covered investments, or they can place them in a qualified blind trust to stay in compliance.
- Requires yearly written compliance certifications and puts those certifications online for the public to see.
- Adds penalties for breaking the rules, including paying back profits to the Treasury and civil fines of at least $1,000 or 10% of the investment’s value, and calls for an audit within 2 years.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
Lawmakers push to ban top-level government officials from trading stocks
Covers the introduction of the DIVEST Act (H.R. 1599) to bar Senior Executive Service officials and their families from trading individual stocks while serving.
RELEASE: Cloud Introduces Bipartisan Bill to Ban Stock Trading by Senior Federal Government Officials
News release describing the DIVEST Act (H.R. 1599) ban on SES stock trading, divest/blind-trust compliance options, and penalties.
Source Information
Document Type
Congressional Bill
Official Title
Dismantling Investments in Violation of Ethical Standards through Trusts Act
Data Sources
Sponsor
Cosponsors
(4)Analysis generated by AI. Always verify with official sources.