No Stock Act
Summary
What This Bill Does
The bill adds new Subchapter IV to Title 5 Chapter 131, banning Members of Congress, the President, Vice President, Supreme Court justices, Federal Reserve officials, and their immediate family members from owning individual, establishes definitions for the stock trading ban including: covered financial interest (stocks, futures, commodities, crypto, derivatives), covered individual (senior federal officials and their families), and prohibits covered individuals from holding, buying, selling, or transacting in covered financial interests; prohibits net short positions; bars covered individuals from serving on corporate boards. It relies on compliance mandates, reporting requirements, and definition changes. The main policy areas are Government Ethics and Finance.
Who Benefits and How
General public and watchdog organizations would be affected, General public (reduced conflicts of interest) would be affected, and General public (deterrence benefit) would be affected.
Who Bears the Burden and How
Supreme Court justices and their families would take on compliance duties, Supreme Court justices would take on compliance duties, and President, Vice President and their families would take on compliance duties.
Key Provisions
- Adds new Subchapter IV to Title 5 Chapter 131, banning Members of Congress, the President, Vice President, Supreme Court justices, Federal Reserve officials, and their immediate family members from owning individual...
- Establishes definitions for the stock trading ban including: covered financial interest (stocks, futures, commodities, crypto, derivatives), covered individual (senior federal officials and their families)...
- Prohibits covered individuals from holding, buying, selling, or transacting in covered financial interests; prohibits net short positions; bars covered individuals from serving on corporate boards.
- Requires covered individuals to divest covered financial interests within 120 days of becoming covered or the law enactment, with provisions for inherited assets and extension requests up to 150 days total.
- Requires covered individuals to submit written certification of compliance to their supervising ethics office.
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 adds new Subchapter IV to Title 5 Chapter 131, banning Members of Congress, the President, Vice President, Supreme Court justices, Federal Reserve officials, and their immediate family members from owning individual, establishes definitions for the stock trading ban including: covered financial interest (stocks, futures, commodities, crypto, derivatives), covered individual (senior federal officials and their families), and prohibits covered individuals from holding, buying, selling, or transacting in covered financial interests; prohibits net short positions; bars covered individuals from serving on corporate boards.
Key Policy Areas
Government Ethics, Finance
Primary Purpose
The bill adds new Subchapter IV to Title 5 Chapter 131, banning Members of Congress, the President, Vice President, Supreme Court justices, Federal Reserve officials, and their immediate family members from owning individual, establishes definitions for the stock trading ban including: covered financial interest (stocks, futures, commodities, crypto, derivatives), covered individual (senior federal officials and their families), and prohibits covered individuals from holding, buying, selling, or transacting in covered financial interests; prohibits net short positions; bars covered individuals from serving on corporate boards.
Policy Domains
Section 1 - Short Title
Identified Gains
- General public and watchdog organizations
- General public (reduced conflicts of interest)
- General public (deterrence benefit)
- ETF providers
- Diversified mutual fund managers
Identified Costs
- Supreme Court justices and their families
- Supreme Court justices
- President, Vice President and their families
- President and Vice President
- Members of Congress
Legislative Progress
In CommitteeRead twice and referred to the Committee on Homeland Security …
Introduced in Senate
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Covered officials (Congress, President, VP, judiciary, Fed), Covered officials who violate the ban, Covered officials with existing stock portfolios
Diversified mutual fund and ETF managers, Diversified mutual fund managers, Federal Reserve Board members and bank presidents/VPs
Positive-direction: Diversified mutual fund and ETF managers, Diversified mutual fund managers, Treasury securities market
Negative-direction: Federal Reserve Board members and bank presidents/VPs, Federal Reserve officials, Individual stock brokerages
General public (deterrence benefit), General public (reduced conflicts of interest), General public and watchdog organizations
Financial advisors specializing in divestiture
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "covered_individual"
- → Members of Congress, President, Vice President, Supreme Court justices, Federal Reserve Board members and bank presidents/VPs, and their spouses and dependent children
- "supervising_ethics_office"
- → The ethics office with jurisdiction over each covered individual (e.g., congressional ethics committees for Members, Office of Government Ethics for executive branch, Judicial Conference for judiciary)
Note: The supervising ethics office varies by branch: congressional ethics committees for Members of Congress, Office of Government Ethics for President/VP and executive branch, Judicial Conference for Supreme Court justices, and Inspector General of Federal Reserve Board for Fed officials.
Key Definitions
Terms defined in this bill
Has the meaning given in section 1a of the Commodity Exchange Act (7 U.S.C. 1a)
Any investment in: (1) a security, (2) a future, (3) a commodity, or (4) a cryptocurrency, meme coin, token, NFT, or other digital asset sold for remuneration; also includes synthetic economic interests via derivatives. EXCLUDES: diversified investment funds (mutual funds), spousal employer compensation/stock, US Treasury bills/notes/bonds, and payment stablecoins under GENIUS Act.
Members of Congress, President, Vice President, Chief Justice, Associate Justices of Supreme Court, Federal Reserve Board members, Federal Reserve bank presidents/VPs, and spouses and dependent children of all these individuals.
An individual under age 19 who is a dependent of a covered official under section 152 of the Internal Revenue Code.
A security future as defined in Securities Exchange Act, or any contract for sale of a commodity for future delivery.
The ethics office with jurisdiction over each covered individual, as defined in section 13101.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology