(1) Banning conflicted interests

Chapter 131 of title 5, United States Code, is amended by adding at the end the following:

IV Banning conflicted interests

13161. Definitions

In this subchapter:

(1) Commodity

The term commodity has the meaning given the term in section 1a of the Commodity Exchange Act (7 U.S.C. 1a).

(2) Covered financial interest

(A) In general

The term covered financial interest means—

(i)

any investment in—

(I)

a security (as defined in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C. 78c(a)));

(II)

a future;

(III)

a commodity (as defined in section 1a of the Commodity Exchange Act (7 U.S.C. 1a)); or

(IV)

a cryptocurrency, meme coin, token, non-fungible token, or other digital asset that is sold for remuneration; and

(ii)

any economic interest comparable to an interest described in clause (i) that is acquired through synthetic means, such as the use of a derivative, including an option, warrant, or other similar means.

(B) Exclusions

The term covered financial interest does not include—

(i)

an investment fund registered as an investment company under section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a–3) that is diversified, as defined in section 2640.102 of title 5, Code of Federal Regulations;

(ii)

compensation from the primary occupation of the spouse of an individual described in subparagraphs (A) through (G) of paragraph (3), or any security that is issued or paid by an operating business that is the primary employer of such a spouse that is issued or paid to such a spouse;

(iii)

a United States Treasury bill, note, or bond; or

(iv)

a payment stablecoin, as defined in section 2(22) of the GENIUS Act (Public Law 119–27).

(3) Covered individual

The term covered individual means—

(A)

a Member of Congress (as defined in section 13101);

(B)

the President;

(C)

the Vice President;

(D)

the Chief Justice of the United States;

(E)

an Associate Justice of the Supreme Court of the United States;

(F)

a member of the Board of Governors of the Federal Reserve System;

(G)

a president or vice president of a Federal Reserve bank; or

(H)

the spouse or dependent child of an individual described in subparagraphs (A) through (G).

(4) Dependent child

The term dependent child means any individual who is—

(A)

under the age of 19; and

(B)

a dependent of an individual described in subparagraphs (A) through (G) of paragraph (3) within the meaning of section 152 of the Internal Revenue Code of 1986.

(5) Future

The term future means—

(A)

a security future (as defined in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C. 78c(a))); and

(B)

any other contract for the sale of a commodity for future delivery.

(6) Supervising ethics office

The term supervising ethics office, with respect to a covered individual, has the meaning given the term in section 13101 with respect to that covered individual.

13162. Prohibitions

(a) Transactions

Except as provided in section 13163, no covered individual may—

(1)

hold, purchase, sell, or conduct any type of transaction with respect to a covered financial interest; or

(2)

enter into a transaction that creates a net short position in any security.

(b) Positions

A covered individual may not serve as an officer or member of any board of any for-profit association, corporation, or other entity.

(c) Cooling-Off period

Any individual subject to the restrictions contained in subsection (a) who, within 120 days after such individual ceases to be a covered individual, engages in any of the actions under such subsection, shall be in violation of this subchapter.

13163. Divestiture

(a) Covered financial interests acquired prior to Federal service or enactment of No Stock Act

With respect to any covered financial interest held by a covered individual, the covered individual shall sell the covered financial interest during the applicable 120-day period beginning on the later of—

(1)

the date on which an individual becomes a covered individual; and

(2)

the date of enactment of the No Stock Act.

(b) Covered financial interests acquired through inheritance after the applicable period

(1) In general

A covered individual who inherits a covered financial interest after the conclusion of the applicable 120-day period described in subsection (a) shall sell the covered financial interest during the 120-day period beginning on the date on which the covered financial interest is inherited.

(2) Extensions

A covered individual may request, and the supervising ethics office may grant, 1 or more reasonable extensions of the period described under paragraph (1), subject to the conditions that—

(A)

the total period of time covered by all extensions granted for the covered financial interest shall not exceed 150 days; and

(B)

the period covered by a single extension shall be not longer than 45 days.

13164. Certificate of compliance

Each covered individual shall submit to the supervising ethics office a written certification that such covered individual has achieved compliance with the requirements of this subchapter.

13165. Publication

Each supervising ethics office shall make publicly available on a website of such office the following:

(1)

Within 30 days of receipt, each request for an extension under section 13163(b)(2).

(2)

The outcome of the decision to grant or deny each such request within 30 days of such decision.

13166. Enforcement

A covered individual who knowingly fails to comply with this subchapter shall be assessed a fine by the supervising ethics office of not less than 10 percent of the value of the covered financial interest that was purchased, sold, or held, or the security in which a net short position was created, in violation of this title, as applicable.

13167. Applicability

This subchapter shall apply to any covered financial interest held in any trust with respect to which the covered individual is a beneficial owner, regardless of whether the trust is a qualified blind trust.

(2) Clerical amendment

The table of sections for chapter 131 of title 5, United States Code, is amended by adding at the end the following:

(1) Authority and functions

Section 13122(f)(2)(B) of title 5, United States Code, is amended—

(2) Lobbying Disclosure Act of 1995

Section 3(4)(D) of the Lobbying Disclosure Act of 1995 (2 U.S.C. 1602(4)(D)) is amended by striking legislative branch employee serving in a position described under section 13101(13) of title 5, United States Code and inserting officer or employee of Congress (as defined in section 13101 of title 5, United States Code).

(3) STOCK Act

Section 2 of the STOCK Act (5 U.S.C. 13101 note) is amended—

(4) Securities Exchange Act of 1934

Section 21A of the Securities Exchange Act of 1934 (15 U.S.C. 78u–1) is amended—