,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #fdja  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #bf1 #bjbj,mr4   
,kri%namoor?i 7= himself1 ,ms4          
,ocasio-,cortez1 & ,mr4 ,neguse7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices1 & 9
 addition to ! ,committees on           
,agriculture1 & ,h\se ,adm9i/ration1 = a
 p]iod to be subsequ5tly det]m9$ by !   
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
prohibit ,memb]s ( ,congress f pur*as+  
or sell+ c]ta9 inve/m5ts1 & = o!r       
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,ban ,conflict$ ,trad+     
,act4  #b4 ,def9itions ,9 ?is ,act--    
7#a7 ! t]m commodity has ! mean+ giv5 ! 
t]m 9 section #a;a ( ! ,commodity       
,ex*ange ,act 7#g ,u4,s4,c4 #a;a72  7#b7
 ! t]m cov]$ inve/m5t-- 7,a7 means      
inve/m5t 9 a security1 a commodity1 or a
 future1 or any comp>able economic      
int]e/ acquir$ ?r\gh syn!tic means su* z

 ! use ( a d]ivative2 &  7,b7 does n    
include-- 7i7 a widely held inve/m5t    
fund describ$ 9 section #ajb7;f77#h7 ( !
 ,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e    
,u4,s4,c4 ,app472 or  7ii7 a ,unit$     
,/ates ,treasury bill1 note1 or bond2   
7#c7 ! t]m cov]$ p]son means-- 7,a7 a   
sitt+ ,memb] ( ,congress2 &  7,b7 an    
individual employ$ z an (fic] or        
employee ( ,congress requir$ to file a  
report "u ! ,e?ics 9 ,gov]nm5t ,act (   
#aigh 7#e ,u4,s4,c4 ,app472  7#d7 ! t]m 
future means a f9ancial contract        
obligat+ ! buy] to pur*ase an asset or !
 sell] to sell an asset1 su* z a        
physical commodity or a f9ancial        
in/rum5t1 at a pr$et]m9$ future date &  
price2 &  7#e7 ! t]m security has !     
mean+ giv5 ! t]m 9 section #c7;a7 ( !   
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gh;c7a774  #c4 ,prohibitions 
7a7 ,transactions ,except z provid$ 9   
sections #d & #e1 no cov]$ p]son may--  
7#a7 pur*ase or sell any cov]$ inve/m5t2
 or  7#b7 ent] into a transaction t     

creates a net %ort position 9 any       
security4  7b7 ,positions ,a cov]$ p]son
 may n s]ve z an (fic] or memb] ( any   
bo>d ( any =-pr(it association1         
corporation1 or o!r entity4  #d4        
,exceptions  7a7 ,inve/m5ts held be=e   
tak+ (fice  7#a7 ,9 g5]al ,a cov]$ p]son
 may h control ov] or k ( ! managem5t ( 
any cov]$ inve/m5t held by ! cov]$ p]son
 z ( ! day be=e ! date on :i* ! cov]$   
p]son took (fice4  7#b7 ,prohibition on 
pur*as+ or sell+ ,a cov]$ p]son may n   
buy or sell any inve/m5t describ$ 9     
p>agraph 7#a7 except 9 ! case (-- 7,a7  
plac+ ! inve/m5t 9 a qualifi$ bl9d tru/ 
describ$ 9 section #e2 or  7,b7 dive/+  
!mselves ( any inve/m5t "u subsection   
7b74  7b7 ,dive/iture ,a cov]$ p]son may
 sell a cov]$ inve/m5t dur+ ! #f-mon?   
p]iod beg9n+ on-- 7#a7 ! date on :i* !  
cov]$ p]son takes (fice or beg9s        
employm5t1 z applicable2 or  7#b7 ! date
 ( enactm5t ( ?is ,act4  #e4 ,tru/s  7a7
 ,9 g5]al ,on a case-by-case basis1 !   
,select ,committee on ,e?ics may        

au?orize a cov]$ p]son to place _!      
securities hold+s 9 a qualifi$ bl9d tru/
 approv$ by ! committee "u section      
#ajb7;f7 ( ! ,e?ics 9 ,gov]nm5t ,act (  
#aigh 7#e ,u4,s4,c4 ,app474  7b7 ,bl9d  
tru/ ,a bl9d tru/ p]mitt$ "u ?is        
subsection %all meet ! crit]ia 9 section
 #ajb7;f77#d77;,b7 ( ! ,e?ics 9         
,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4    
,app471 unless an alt]native arrangem5t 
is approv$ by ! ,select ,committee on   
,e?ics4  #f4 ,adm9i/ration & en=cem5t   
7a7 ,adm9i/ration  7#a7 ,9 g5]al ,!     
provisions ( ?is ,act %all be adm9i/]$  
by ! ,select ,committee on ,e?ics ( !   
,s5ate & ! ,committee on ,e?ics ( !     
,h\se ( ,repres5tatives4  7#b7 ,guidance
 ,! ,select ,committee on ,e?ics ( !    
,s5ate & ! ,committee on ,e?ics ( !     
,h\se ( ,repres5tatives are au?oriz$ to 
issue guidance on any matt] conta9$ 9   
?is ,act1 includ+-- 7,a7 :e!r a cov]$   
p]son may hold an employee /ock option1 
or simil> in/rum5t1 t _h n ve/$ be=e !  
date on :i* ! cov]$ p]son 0 elect$2 &   

7,b7 ! process & timel9e = :5 a cov]$   
p]son %all no long] s]ve z an (fic] or  
memb] ( any bo>d ( any =-pr(it          
association1 corporation1 or o!r entity4
  7b7 ,en=cem5t ,:oev] kn[+ly fails to  
comply ) ?is ,act %all be subject to a  
civil p5alty ( n less ?an #aj p]c5t ( ! 
value ( ! cov]$ inve/m5t t 0 pur*as$ or 
sold or ! security 9 :i* a net %ort     
position 0 creat$ 9 violation ( ?is     
,act1 z applicable4