To amend title 5, United States Code, to prohibit transactions involving certain financial instruments by Members of Congress and their spouses, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires prohibiting transactions and ownership of certain financial instruments by Members of Congress and their spouses Chapter 131 of title 5, United States Code, is amended by adding after subchapter III, defines definitions In this subchapter— the term covered financial instrument— means— any investment in— a security (as defined in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C, and requires prohibition on certain transactions and holdings involving covered financial instruments Except as provided in subsection (b), a Member of Congress and the Member’s spouse may not, during the term of service. It relies on definition changes, compliance mandates, tax rate changes, and reporting requirements. The main policy areas are Financial Services and Finance.
Who Benefits and How
Financial services firms and customers affected by the bill could face lower compliance burdens and Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Public beneficiaries or protected communities affected by the clause could face increased risk, and Financial services firms and customers affected by the bill would take on compliance duties.
Key Provisions
- Requires prohibiting transactions and ownership of certain financial instruments by Members of Congress and their spouses Chapter 131 of title 5, United States Code, is amended by adding after subchapter III...
- Defines definitions In this subchapter— the term covered financial instrument— means— any investment in— a security (as defined in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C.
- Requires prohibition on certain transactions and holdings involving covered financial instruments Except as provided in subsection (b), a Member of Congress and the Member’s spouse may not, during the term of service...
- Requires supervising ethics office certification of compliance and audit.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires prohibiting transactions and ownership of certain financial instruments by Members of Congress and their spouses Chapter 131 of title 5, United States Code, is amended by adding after subchapter III, defines definitions In this subchapter— the term covered financial instrument— means— any investment in— a security (as defined in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C, and requires prohibition on certain transactions and holdings involving covered financial instruments Except as provided in subsection (b), a Member of Congress and the Member’s spouse may not, during the term of service.
Key Policy Areas
Financial Services, Finance
Primary Purpose
The bill requires prohibiting transactions and ownership of certain financial instruments by Members of Congress and their spouses Chapter 131 of title 5, United States Code, is amended by adding after subchapter III, defines definitions In this subchapter— the term covered financial instrument— means— any investment in— a security (as defined in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C, and requires prohibition on certain transactions and holdings involving covered financial instruments Except as provided in subsection (b), a Member of Congress and the Member’s spouse may not, during the term of service.
Policy Domains
Whole bill
Identified Gains
- Financial services firms and customers affected by the bill
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Public beneficiaries or protected communities affected by the clause
- Financial services firms and customers affected by the bill
Sponsors
Zachary Nunn
R-IA | Primary Sponsor
Legislative Progress
IntroducedMr. Nunn of Iowa (for himself and Mr. Stanton) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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