The bill would prevent members of the executive and legislative branches — as well as their spouses and children — from trading individual company stocks. The legislation will also ban blind trusts, require increased filing transparency, and significantly increases penalties for violations, including fines of at least 10% of the value of the prohibited investments for members of Congress. “Sunlight is the best disinfectant. It is critical that the American people know that their elected leaders are putting the public first – not looking for ways to line their own pockets,” Gillibrand said in a statement. The Senate bill builds upon a proposed bill in the House that would ban members from trading stocks, but did allow members of Congress, their spouses and their dependent children to put certain investment assets into a qualified blind trust while the member is in office. The Senate’s version would ban that provision. “Politicians and civil servants shouldn’t spend their time day-trading and trying to make a profit at the expense of the American public, but that’s exactly what so many do,” Hawley said. “My bill with Senator Gillibrand is common sense: ban elected and executive branch officials from trading or holding stocks, and put the American public first.” Document: — New York Democratic Sen. Kirsten Gillibrand and Missouri Republican Sen. Josh Hawley are introducing bipartisan legislation that would prevent members of the executive and legislative branches — as The bill would prevent members of the executive legislative branches — as well as their spouses and children — from trading individual company stocks. The legislation will also ban blind trusts, require increased filing transparency, and significantly increases penalties for violations, including fines of at least 10% of the value of the prohibited investments for members of Congress. “Sunlight is the best disinfectant. It is critical that the American people know that their elected leaders are putting the public first – not looking for ways to line their own pockets,” Gillibrand said in a statement. The Senate bill builds upon a proposed bill in the House that would ban members from trading stocks, but did allow members of Congress, their spouses and their dependent children to put certain investment assets into a qualified blind trust while the member is in office. The Senate’s version would ban that provision. “Political and civil servants shouldn’t spend their time day-trading and trying American Gilli The bill would prevent members of the executive (and legislative) branches — as well as family members such The build on a proposal in the House that would prohibit members of both chambers of government along with their families from trading stock in individual companies during their terms bill builds on a proposal in the House that would bar Members of Governmental Executive and Legiative Branch Official Stock Trading Prohibition Act of 2019 would prevent members of the executive and legislative branches — as well as their spouses and children —
The Senate Finance Committee has introduced a bipartisan bill that would ban stock ownership for executive and legislative branch office holders and their families.
