Ending Trading and Holdings In Congressional Stocks (ETHICS) Act
- Last Action
- 12/19/2024
Actions
- 2024-12-19Placed on Senate Legislative Calendar under General Orders. Calendar No. 729.
- 2024-12-19Committee on Homeland Security and Governmental Affairs. Reported by Senator Peters with an amendment in the nature of a substitute. With written report No. 118-309.
- 2024-12-19Committee on Homeland Security and Governmental Affairs. Reported by Senator Peters with an amendment in the nature of a substitute. With written report No. 118-309.
- 2024-07-24Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- 2023-04-17Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
- 2023-04-17Introduced in Senate
CRS Summary
As of 2023-04-17 (00)
Ending Trading and Holdings In Congressional Stocks (ETHICS) Act
This bill generally prohibits Members of Congress (and their spouses and dependents) from purchasing or selling certain investments, such as individual stocks and related financial instruments that are not diversified investment funds, Treasury securities, or other specified holdings. Violations of this prohibition are subject to specified civil penalties.
Members must certify their compliance with the provisions of the bill, and the applicable House or Senate ethics office must make the certifications and related information (e.g., trust agreements; descriptions of assets held in trusts; and federal loans, grants, or related benefits that the Member received) available online.
Additionally, the bill restricts certain communications between trustees and beneficiaries related to investments held in qualified blind trusts. Violations of the restriction are subject to specified civil penalties.
Further, the bill imposes penalties for failing to comply with existing financial disclosure requirements and requires electronic filing of those disclosures in a searchable format.
Cosponsors (20)
- Sherrod Brown (D-OH)
- Kirsten Gillibrand (D-NY)
- Angus King (I-ME)
- Bernard Sanders (I-VT)
- Debbie Stabenow (D-MI)
- Jeanne Shaheen (D-NH)
- Tammy Duckworth (D-IL)
- Bob Casey (D-PA)
- Peter Welch (D-VT)
- Ben Luján (D-NM)
- John Fetterman (D-PA)
- Mazie Hirono (D-HI)
- Catherine Cortez Masto (D-NV)
- Tammy Baldwin (D-WI)
- Chris Van Hollen (D-MD)
- Ben Cardin (D-MD)
- Jon Tester (D-MT)
- Martin Heinrich (D-NM)
- Timothy Kaine (D-VA)
- Richard Blumenthal (D-CT)
Subjects
- Civil actions and liability
- Commodities markets
- Family relationships
- Financial services and investments
- Government ethics and transparency, public corruption
- Government information and archives
- Members of Congress
- Securities
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.