,i #aah? ,,congress #a/ ,session ,h4 ,r4 #caj ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,janu>y #ab1 #bjbc,mr4 ,cl\d 7= himself & ,mr4 ,gold5 ( ,ma9e7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ov]sight & ,acc\ntability1 & 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 title #e1 ,unit$ ,/ates ,code1 to prohibit transactions involv+ c]ta9 f9ancial in/rum5ts by s5ior ,f$]al employees1 _! sp\ses1 or dep5d5t *ildr51 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,dismantl+ ,inve/m5ts 9 ,violation ( ,e?ical ,/&>ds ?r\gh ,tru/s ,act4 #b4 ,prohibit+ transactions & own]%ip ( c]ta9 f9ancial in/rum5ts by s5ior ,f$]al employees1 _! sp\ses1 or dep5d5t *ildr5 7a7 ,9 g5]al ,*apt] #ac ( title #e1 ,unit$ ,/ates ,code1 is am5d$ by add+ aft] sub*apt] ,,iii ! foll[+3 ,,iv ,re/rictions ,reg>d+ ,f9ancial ,in/rum5ts #acaea4 ,def9itions ,9 ?is sub*apt]3 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 *ild ( a s5ior ,f$]al employee4 7#b7 ,qualifi$ bl9d tru/ ,! t]m qualifi$ bl9d tru/ has ! mean+ giv5 ! t]m 9 section #acajd4 7#c7 ,s5ior ,f$]al employee ,! t]m s5ior ,f$]al employee means any individual occupy+ a ,s5ior ,executive ,s]vice position 7z t t]m is def9$ 9 section #cacb74 7#d7 ,sup]vis+ e?ics (fice ,! t]m sup]vis+ e?ics (fice has ! mean+ giv5 ! t]m 9 section #acaja4 #acaeb4 ,prohibition on c]ta9 transactions & hold+s involv+ cov]$ f9ancial in/rum5ts 7a7 ,prohibition ,except z provid$ 9 subsection 7b71 a s5ior ,f$]al employee1 _! sp\se1 or _! dep5d5t *ildr5 may n1 dur+ ! t]m ( s]vice ( ! employee1 hold1 pur*ase1 or sell any cov]$ f9ancial in/rum5t4 7b7 ,exceptions ,! prohibition "u subsection 7a7 does n apply to-- 7#a7 a sale by a s5ior ,f$]al employee1 _! sp\se1 or _! dep5d5t *ild t is complet$ by ! date t is-- 7,a7 = an employee s]v+ on ! date ( enactm5t ( ?is title1 #ahj days aft] t date ( enactm5t2 & 7,b7 = any employee :o comm5ces s]vice z an employee aft] ! date ( enactm5t ( ?is title1 #ahj days aft] ! fir/ date ( ! initial t]m ( s]vice2 7#b7 a cov]$ f9ancial in/rum5t held 9 a qualifi$ bl9d tru/ op]at$ on behalf (1 or = ! b5efit (1 a s5ior ,f$]al employee1 _! sp\se1 or _! dep5d5t *ild2 or 7#c7 a cov]$ f9ancial in/rum5t exempt$ f cov]age "u section #bjh ( title #ah pursuant to section #bfdj4bjb ( title #e1 ,code ( ,f$]al ,regulations 7or any successor regulation74 7c7 ,application ( c]tificate ( dive/iture program ,= purposes ( section #ajdc ( ! ,int]nal ,rev5ue ,code ( #aihf-- 7#a7 ?is section %all be treat$ z a ,f$]al conflict ( int]e/ /atute2 & 7#b7 any p]son requir$ to dispose ( any prop]ty by reason ( ?is section %all be treat$ z an eligible p]son4 7d7 ,p5alties 7#a7 ,disgorgem5t ,a s5ior ,f$]al employee1 _! sp\se1 or _! dep5d5t *ild %all disgorge to ! g5]al fund ( ! ,treasury any pr(it f a transaction or hold+ involv+ a cov]$ 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 s5ior ,f$]al employee1 _! sp\se1 or _! dep5d5t *ild4 7#c7 ,f9es ,a s5ior ,f$]al employee :o holds or conducts a transaction involv+ a cov]$ f9ancial in/rum5t 9 violation ( ?is section may be subject to a civil f9e assess$ by ! sup]vis+ e?ics (fice "u section #acaec4 #acaec4 ,c]tification ( compliance 7a7 ,9 g5]al ,n less frequ5tly ?an annually1 ea* s5ior ,f$]al employee %all submit to ! sup]vis+ e?ics (fice a writt5 c]tification t ! employee1 _! sp\se1 or _! dep5d5t *ild has a*iev$ compliance ) ! requirem5ts ( ?is title4 7b7 ,publication ,! sup]vis+ e?ics (fice %all publi% ea* c]tification submitt$ "u subsection 7a7 on a publicly available website4 #acaed4 ,au?ority ( sup]vis+ e?ics (fice 7a7 ,9 g5]al ,! sup]vis+ e?ics (fice may implem5t & en=ce ! requirem5ts ( ?is sub*apt]1 includ+ by-- 7#a7 issu+-- 7,a7 = applicable s5ior ,f$]al employees-- 7i7 rules gov]n+ t implem5tation2 & 7ii7 #a or m reasonable ext5sions to a*ieve compliance ) ?is sub*apt]1 if ! sup]vis+ e?ics (fice det]m9es t an employee is mak+ a good fai? ef=t to dive/ any cov]$ f9ancial in/rum5ts2 & 7,b7 guidance relat+ to cov]$ f9ancial in/rum5ts2 7#b7 publi%+ on ! int]net c]tifications submitt$ by s5ior ,f$]al employees "u section #acaec7;a72 & 7#c7 assess+ civil f9es aga9/ any s5ior ,f$]al employee :o is 9 violation ( ?is sub*apt]1 subject to subsection 7b74 7b7 ,requirem5ts = civil f9es 7#a7 ,am\nt ,a f9e impos$ "u ?is section aga9/ a s5ior ,f$]al employee %all be equal to ! great] (-- 7,a7 #a1jjj1 or 7,b7 an am\nt equal to #aj p]c5t ( ! greate/ doll> value ( ! applicable cov]$ f9ancial in/rum5t dur+ any p]iod t su* in/rum5t 0 held by ! applicable s5ior ,f$]al employee or _! sp\se or dep5d5t *ild 7z ! case may be74 7#b7 ,9 g5]al ,be=e impos+ a f9e pursuant to ?is section1 ! sup]vis+ e?ics (fice %all provide to ! applicable s5ior ,f$]al employee-- 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 sub*apt]4 7#c7 ,publication ,! sup]vis+ e?ics (fice %all publi% on a publicly available website a description (-- 7,a7 ea* f9e assess$ pursuant to ?is section2 7,b7 ! reasons :y ea* su* f9e 0 assess$2 & 7,c7 ! result ( ea* assessm5t1 includ+ any he>+ "u p>agraph 7#b77;,b77i7 relat+ to ! assessm5t4 7#d7 ,appeal ,a s5ior ,f$]al employee may appeal to ! sup]vis+ e?ics (fice a f9e assess$ "u ?is section dur+ ! #cj-;day p]iod beg9n+ on ! date ! f9e is s assess$4 #acaee4 ,audit by ,gov]nm5t ,acc\ntability ,(fice ,n lat] ?an #b ye>s aft] ! date ( enactm5t ( ?is sub*apt]1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all-- 7#a7 conduct an audit ( ! compliance by s5ior ,f$]al employees ) ! requirem5ts ( ?is sub*apt]2 & 7#b7 submit to ea* sup]vis+ e?ics (fice a report describ+ ! results ( ! audit conduct$ "u p>agraph 7#a74 4 7b7 ,application ,! am5dm5ts made by subsection 7a7 %all apply to individuals describ$ 9 section #acaeb7;a7 ( title #e1 ,unit$ ,/ates ,code1 7z add$ by subsection 7a77 beg9n+ on ! date t is #ab mon?s foll[+ ! date ( enactm5t ( ?is ,act4 7c7 ,additional employees ,section #acaba7;c77#a7 ( title #e1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ up to #ajj aft] appo9t4 7d7 ,fund+ ,! ,director ( ! ,(fice ( ,managem5t & ,budget may transf] su* funds z ! ,director consid]s appropriate1 to be d]iv$ f unobligat$ am\nts available = executive bran* programs id5tifi$ by ! ,director to be duplicative1 to ! ,(fice ( ,gov]nm5t ,e?ics = ! purpose ( c>ry+ out ?is ,act1 to rema9 available until ! date t is #e ye>s foll[+ ! date ( ! enactm5t ( ?is ,act4