,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #fdij  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,janu>y #be1          
#bjbb,mrs4 ,h>tzl] introduc$ ! foll[+   
bill2 :i* 0 ref]r$ to ! ,committee on   
,h\se ,adm9i/ration1 & 9 addition to !  
,committee on ,ways & ,means1 = 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 am5d !
 ,e?ics 9 ,gov]nm5t ,act ( #aigh to     
prohibit transactions involv+ c]ta9     
f9ancial in/rum5ts by ,memb]s (         
,congress4  #a4 ,%ort title ,?is ,act   
may be cit$ z ! ,bann+ ,insid] ,trad+ 9 
,congress ,act4  #b4 ,bann+ insid] trad+
 9 ,congress  7a7 ,9 g5]al ,! ,e?ics 9  
,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4    
,app47 is am5d$ by ins]t+ aft] title ,i 
! foll[+3  ,,ii ,bann+ insid] trad+ 9   
,congress  #bja4 ,def9itions ,9 ?is     
title3 7#a7 ,cov]$ f9ancial in/rum5t    
7,a7 ,9 g5]al ,! t]m cov]$ f9ancial     
in/rum5t means-- 7i7 any inve/m5t 9--   

7,i7 a security 7z def9$ 9 section      
#c7;a7 ( ,securities ,ex*ange ,act (    
#aicd 7#ae ,u4,s4,c4 #gh;c7a7772  7,,ii7
 a security future 7z def9$ 9 t         
section72 or  7,,iii7 a commodity 7z    
def9$ 9 section #a;a ( ! ,commodity     
,ex*ange ,act 7#g ,u4,s4,c4 #a;a772 &   
7ii7 any economic int]e/ comp>able to an
 int]e/ describ$ 9 clause 7i7 t is      
acquir$ ?r\gh syn!tic means1 su* z ! use
 ( a d]ivative1 includ+ an option1      
w>rant1 or o!r simil> means4  7,b7      
,exclusions ,! t]m cov]$ f9ancial       
in/rum5t does n include-- 7i7 a         
div]sifi$ mutual fund2  7ii7 a div]sifi$
 ex*ange-trad$ fund2  7iii7 a ,unit$    
,/ates ,treasury bill1 note1 or bond2 or
  7iv7 comp5sation f ! prim>y occupation
 ( a sp\se or dep5d5t ( a ,memb] (      
,congress4  7#b7 ,memb] ( ,congress ,!  
t]m ,memb] ( ,congress has ! mean+ giv5 
! t]m 9 section #aji4  7#c7 ,qualifi$   
bl9d tru/ ,! t]m qualifi$ bl9d tru/ has 
! mean+ giv5 ! t]m 9 section            
#ajb7;f77#c74  7#d7 ,sup]vis+ e?ics     

committee ,! t]m sup]vis+ e?ics         
committee means1 z applicable-- 7,a7 !  
,select ,committee on ,e?ics ( ! ,s5ate2
 &  7,b7 ! ,committee on ,e?ics ( !     
,h\se ( ,repres5tatives4  #bjb4         
,prohibition on c]ta9 transactions &    
hold+s involv+ cov]$ f9ancial in/rum5ts 
7a7 ,prohibition ,except z provid$ 9    
subsection 7b71 a ,memb] ( ,congress1 or
 any sp\se ( a ,memb] ( ,congress1 may  
n1 dur+ ! t]m ( s]vice ( ! ,memb] (     
,congress1 hold1 pur*ase1 or sell any   
cov]$ f9ancial in/rum5t4  7b7           
,exceptions ,! prohibition "u subsection
 7a7 %all n apply to-- 7#a7 a sale by a 
,memb] ( ,congress1 or a sp\se ( a      
,memb] ( ,congress1 t is complet$ by !  
date t is-- 7,a7 = a ,memb] ( ,congress 
s]v+ on ! date ( enactm5t ( ! ,bann+    
,insid] ,trad+ 9 ,congress ,act1 #ahj   
days aft] t date ( enactm5t2 &  7,b7 =  
any ,memb] ( ,congress :o comm5ces      
s]vice z a ,memb] ( ,congress aft] !    
date ( enactm5t ( ! ,bann+ ,insid]      
,trad+ 9 ,congress ,act1 #ahj days aft] 

! fir/ date ( ! initial t]m ( s]vice2 or
  7#b7 a cov]$ f9ancial in/rum5t held 9 
a qualifi$ bl9d tru/ op]at$ on behalf (1
 or = ! b5efit (1 ! ,memb] ( ,congress  
or sp\se ( ! ,memb] ( ,congress4  7c7   
,p5alties  7#a7 ,disgorgem5t ,a ,memb] (
 ,congress %all disgorge to ! ,treasury 
( ! ,unit$ ,/ates any pr(it f a         
transaction or hold+ involv+ a cov]$    
f9ancial in/rum5t t is conduct$ 9       
violation ( ?is section4  7#b7 ,income  
tax ,a loss f a transaction or hold+    
involv+ a cov]$ f9ancial in/rum5t t is  
conduct$ 9 violation ( ?is section may n
 be d$uct$ f ! am\nt ( income tax ow$ by
 ! applicable ,memb] ( ,congress or     
sp\se ( a ,memb] ( ,congress4  7#c7     
,f9es ,a ,memb] ( ,congress :o holds or 
conducts a transaction involv+1 or ^:   
sp\se holds or conducts a transaction   
involv+1 a cov]$ f9ancial in/rum5t 9    
violation ( ?is section may be subject  
to a civil f9e assess$ by ! sup]vis+    
e?ics committee "u section #bjd4  #bjc4 
,c]tification ( compliance  7a7 ,9 g5]al

 ,n less frequ5tly ?an annually1 ea*    
,memb] ( ,congress %all submit to !     
applicable sup]vis+ e?ics committee a   
writt5 c]tification t ! ,memb] (        
,congress has a*iev$ compliance ) !     
requirem5ts ( ?is title4  7b7           
,publication ,! sup]vis+ e?ics          
committees %all publi% ea* c]tification 
submitt$ "u subsection 7a7 on a publicly
 available website4  #bjd4 ,au?ority (  
sup]vis+ e?ics committees  7a7 ,9 g5]al 
,! sup]vis+ e?ics committees may        
implem5t & en=ce ! requirem5ts ( ?is    
title1 includ+ by-- 7#a7 issu+-- 7,a7 = 
,memb]s ( ,congress-- 7i7 rules gov]n+ t
 implem5tation2 &  7ii7 #a or m         
reasonable ext5sions to a*ieve          
compliance ) ?is title1 if ! sup]vis+   
e?ics committee det]m9es t a ,memb] (   
,congress is mak+ a good fai? ef=t to   
dive/ any cov]$ f9ancial in/rum5ts2 &   
7,b7 guidance relat+ to cov]$ f9ancial  
in/rum5ts2  7#b7 publi%+ on ! ,int]net  
c]tifications submitt$ by ,memb]s (     
,congress "u section #bjc7;a72 &  7#c7  

assess+ civil f9es aga9/ any ,memb] (   
,congress :o is 9 violation ( ?is title1
 subject to subsection 7b74  7b7        
,requirem5ts = civil f9es  7#a7 ,9 g5]al
 ,be=e impos+ a f9e pursuant to ?is     
section1 a sup]vis+ e?ics committee %all
 provide to ! applicable ,memb] (       
,congress-- 7,a7 a writt5 notice        
describ+ ea* cov]$ f9ancial in/rum5t    
transaction = :i* a f9e w be assess$2 & 
7,b7 an opportunity1 ) respect to ea*   
su* cov]$ f9ancial in/rum5t             
transaction-- 7i7 = a he>+2 &  7ii7 to  
a*ieve compliance ) ! requirem5ts ( ?is 
title4  7#b7 ,publication ,ea* sup]vis+ 
e?ics committee %all publi% on a        
publicly available website a description
 (-- 7,a7 ea* f9e assess$ by ! sup]vis+ 
e?ics committee pursuant to ?is section2
  7,b7 ! reasons :y ea* su* f9e 0       
assess$2 &  7,c7 ! result ( ea*         
assessm5t1 includ+ any he>+ "u p>agraph 
7#a77;,b77i7 relat+ to ! assessm5t4     
7#c7 ,appeal ,a ,memb] ( ,congress may  
appeal ! assessm5t ( a f9e "u ?is       

section to a vote on ! floor ( ! ,s5ate 
or ! ,h\se ( ,repres5tatives1 z         
applicable1 z a privileg$ motion4  #bje4
 ,audit by ,gov]nm5t ,acc\ntability     
,(fice ,n lat] ?an #b ye>s aft] ! date (
 enactm5t ( ! ,bann+ ,insid] ,trad+ 9   
,congress ,act1 ! ,comptroll] ,g5]al ( !
 ,unit$ ,/ates %all-- 7#a7 conduct an   
audit ( ! compliance by ,memb]s (       
,congress ) ! requirem5ts ( ?is title2 &
  7#b7 submit to ! sup]vis+ e?ics       
committees a report describ+ ! results (
 ! audit conduct$ "u p>agraph 7#a74  4  
7b7 ,con=m+ am5dm5ts  7#a7 ,section #aji
 ( ! ,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e
 ,u4,s4,c4 ,app47 is am5d$-- 7,a7 9 !   
matt] prec$+ p>agraph 7#a71 by /rik+ ,= 
! purposes ( ?is title1 ! t]m-- & ins]t+
 ,9 ?is title32  7,b7 9 p>agraph 7#a71  
by /rik+ means & all t foll[s ?r\gh     
,repres5tatives2 & ins]t+ ! foll[+3     
means1 z applicable-- 7,a7 ! ,select    
,committee on ,e?ics ( ! ,s5ate2 &  7,b7
 ! ,committee on ,e?ics ( ! ,h\se (     
,repres5tatives4  2  7,c7 9 ea* (       

p>agraphs 7#b7 ?r\gh 7#ag71 by /rik+ !  
semicolon at ! end ( ! p>agraph & ins]t+
 a p]iod2  7,d7 9 p>agraph 7#ah7-- 7i7 9
 subp>agraph 7,b71 by /rik+ ,/&>ds (    
,(ficial ,conduct & ins]t+ ,e?ics2 &    
7ii7 9 subp>agraph 7,d71 by /rik+ 2 & at
 ! end & ins]t+ a p]iod2  7,e7 9 ea* (  
p>agraphs 7#a7 ?r\gh 7#ai7-- 7i7 by     
ins]t+ ,! t]m aft] ! p>agraph           
designation2 &  7ii7 by ins]t+ a        
p>agraph head+1 ! text ( :i* is compris$
 ( ! t]m def9$ 9 t p>agraph2 &  7,f7 by 
r$esignat+ p>agraphs 7#h7 & 7#i7 z      
p>agraphs 7#i7 & 7#h71 respectively1 &  
mov+ ! p>agraphs s z to appe> 9 num]ical
 ord]4  7#b7 ,section #aja7;f7 ( !      
,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e     
,u4,s4,c4 ,app47 is am5d$-- 7,a7 9      
p>agraph 7#i71 by /rik+ z def9$ "u      
section #aji7ab72  7,b7 9 p>agraph      
7#aj71 by /rik+ z def9$ "u section      
#aji7ac72  7,c7 9 p>agraph 7#aa71 by    
/rik+ z def9$ "u section #aji7aj72 &    
7,d7 9 p>agraph 7#ab71 by /rik+ z def9$ 
"u section #aji7h74  7#c7 ,section #ajc 

( ! ,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e 
,u4,s4,c4 ,app47 is am5d$-- 7,a7 9      
subsection 7j77#a71 by /rik+ ,/&>ds (   
,(ficial ,conduct & ins]t+ ,e?ics2 &    
7,b7 9 subsection 7l7-- 7i7 9 p>agraph  
7#i71 by /rik+ 1 z def9$ "u section     
#aji7ab72 &  7ii7 9 p>agraph 7#aj71 by  
/rik+ 1 z def9$ "u section #aji7ac74    
7#d7 ,section #aje7;b77#c77;,a7 ( !     
,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e     
,u4,s4,c4 ,app47 is am5d$ by /rik+      
describ$ 9 section #aji7h7 or #aji7aj7 (
 ?is ,act & ins]t+ :o is a judicial     
employee or judicial (fic]4  7#e7       
,section #aaa7b7 ( ! ,e?ics 9 ,gov]nm5t 
,act ( #aigh 7#e ,u4,s4,c4 ,app47 is    
am5d$ by /rik+ ,/&>ds ( ,(ficial        
,conduct & ins]t+ ,e?ics4  7#f7 ,section
 #djb ( ! ,e?ics 9 ,gov]nm5t ,act (     
#aigh 7#e ,u4,s4,c4 ,app47 is am5d$--   
7,a7 9 subsection 7b71 by /rik+ title   
,,ii ( ea* place x appe>s2 &  7,b7 9    
subsection 7f77#b77;,b7-- 7i7 by /rik+  
,subject to clause 7iv7 ( ?is           
subp>agraph1 be=e ea* place x appe>s &  

ins]t+ ,be=e2 &  7ii7 by /rik+ clause   
7iv74  7#g7 ,section #ejc7a77;,a7 ( !   
,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e     
,u4,s4,c4 ,app47 is am5d$ by /rik+      
,/&>ds ( ,(ficial ,conduct & ins]t+     
,e?ics4  7#h7 ,section #c7d77;,d7 ( !   
,lobby+ ,disclosure ,act ( #aiie 7#b    
,u4,s4,c4 #afjb7d77;,d77 is am5d$ by    
/rik+ legislative bran* employee s]v+ 9 
a position describ$ "u section #aji7ac7 
( ! ,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e 
,u4,s4,c4 ,app47 & ins]t+ (fic] or      
employee ( ! ,congress 7z def9$ 9       
section #aji ( ! ,e?ics 9 ,gov]nm5t ,act
 ( #aigh 7#e ,u4,s4,c4 ,app4774  7#i7   
,section #ba;,a ( ! ,securities ,ex*ange
 ,act ( #aicd 7#ae ,u4,s4,c4 #ghu-#a7 is
 am5d$-- 7,a7 9 subsection              
7g77#b77;,b77ii71 by /rik+ section      
#aji7aa7 ( ! ,e?ics 9 ,gov]nm5t ,act (  
#aigh 7#e ,u4,s4,c4 ,app4 #aji7aa77 &   
ins]t+ section #aji ( ! ,e?ics 9        
,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4    
,app472 &  7,b7 9 subsection 7h77#b7--  
7i7 9 subp>agraph 7,b71 by /rik+ section

 #aji7h7 ( ! ,e?ics 9 ,gov]nm5t ,act (  
#aigh 7#e ,u4,s4,c4 ,app4 #aji7h77 &    
ins]t+ section #aji ( ! ,e?ics 9        
,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4    
,app472 &  7ii7 9 subp>agraph 7,c71 by  
/rik+ "u section #aji7aj7 ( ! ,e?ics 9  
,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4    
,app4 #aji7aj77 & ins]t+ 9 section #aji 
( ! ,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e 
,u4,s4,c4 ,app474