Members of Congress and their close families could no longer buy or keep most individual stocks. They would have to sell them or use approved blind trusts, and late stock trade reports would trigger fines.
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Ending Trading and Holdings in Congressional Stocks (ETHICS) Act is a House bill in committee. The latest recorded action: Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, and the Judiciary, 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.
Latest action on H.R. 4890: Referred to the Committee on House Administration, and in addition to the Committees on Oversight and Government Reform, and the Judiciary, 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.
Who this affects: This bill mainly affects Members of Congress and their families. Members, spouses, and dependent children would have to change how they buy, hold, or sell many investments. Ethics offices would review blind trusts, post records, and manage public reporting systems. The public, journalists, and watchdog groups would get easier access to financial and trade reports.
Why this matters: This bill matters because Members of Congress can make decisions that affect companies and markets. The bill would reduce the chance that a Member's personal investments appear to shape official work. It would also make financial records easier to check. The full effects on who runs for Congress, how families invest, and how ethics offices enforce the rules are uncertain.
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