,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #dbbb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #bj1 #bjbc,mr4  
,langwor?y 7= himself & ,mr4 ,kilm]7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ov]sight &            
,acc\ntability  ,a ,,bill  ,to require  
executive bran* ag5cies to prohibit     
conflict+ f9ancial int]e/s ?r\gh        
prohibit$ hold+s regulations4  #a4 ,%ort
 title ,?is ,act may be cit$ z !        
,executive ,bran* ,conflict ( ,int]e/   
,prev5tion ,act ( #bjbc4  #b4           
,e/abli%m5t ( prohibit$ hold+s          
regulations  7a7 ,def9itions ,9 ?is     
,act3  7#a7 ,cov]$ gov]nm5t (ficial ,!  
t]m cov]$ gov]nm5t (ficial includes any 
(fic] or employee :o occupies a position
 classifi$ above ,,gs-#ae ( ! ,g5]al    
,s*$ule or1 9 ! case ( positions n "u ! 
,g5]al ,s*$ule-- 7,a7 = :i* ! rate (    
basic pay is equal to or great] ?an #abj
 p]c5t ( ! m9imum rate ( basic pay      
payable = ,,gs-#ae ( ! ,g5]al ,s*$ule2  
7,b7 ea* memb] ( a uni=m$ s]vice ^: pay 

grade is at or 9 excess ( ,o-#g "u      
section #bja ( title #cg1 ,unit$ ,/ates 
,code2 &  7,c7 ea* (fic] or employee 9  
any o!r position det]m9$ by ! ,director 
( ! ,(fice ( ,gov]nm5t ,e?ics to be (   
equal classification4  7#b7 ,div]sifi$  
fund ,! t]m div]sifi$ fund means a      
widely held inve/m5t fund describ$ 9    
section #acajd7;f77#h7 ( title #e1      
,unit$ ,/ates ,code1 t does n h a /at$  
policy ( conc5trat+ its inve/m5ts 9 any 
indu/ry1 bus9ess1 or s+le c\ntry o!r ?an
 ! ,unit$ ,/ates4  7b7 ,9 g5]al ,subject
 to any exception = an int]e/ held ?r\gh
 a div]sifi$ fund or a qualifi$ bl9d    
tru/1 no cov]$ gov]nm5t (ficial %all own
 any f9ancial int]e/ 9 a corporation1   
bus9ess1 p>tn]%ip1 or o!r =-pr(it entity
 t is det]m9$ to be--  7#a7 sub/antially
 regulat$ by ! ag5cy or o!rwise directly
 influ5c$ by ! action ( ! executive     
ag5cy2  7#b7 a major contractor ( !     
ag5cy2  7#c7 an organization t has      
sub/antial lobby+ contacts ) ! ag5cy2 or
  7#d7 an organization t o!rwise poses !

 reali/ic pot5tial = creat+ a sub/antial
 appe>ance ( a conflict ( int]e/4  7c7  
,guidance ,! ,director ( ! ,(fice (     
,gov]nm5t ,e?ics %all issue guidance to 
executive ag5cies reg>d+ ! mean+ ( !    
t]ms sub/antially regulat$1 major       
contractor1 sub/antial lobby+ contacts1 
& sub/antial appe>ance ( a conflict (   
int]e/ specifically 9 ! context ( ?is   
,act4  7d7 ,report ,if an ag5cy head    
det]m9es t no f9ancial int]e/ meets !   
crit]ia e/abli%$ 9 subsection 7b71 z    
def9$ by ! ,director ( ! ,(fice (       
,gov]nm5t ,e?ics pursuant to subsection 
7c71 & t issuance ( a prohibit$ hold+s  
regulation "u ?is regulation is n       
possible1 ! head ( ! ag5cy %all sign a  
report to ,congress t--  7#a7 expla9s 9 
detail :y !re is no reali/ic pot5tial = 
any (fic] or employee describ$ 9        
subsection 7a7 to enc\nt] a conflict (  
int]e/ 9 ! p]=mance ( (ficial duties2   
7#b7 describes 9 detail all /eps        
und]tak5 by ! ag5cy to evaluate !       
pot5tial = conflicts ( int]e/ to arise  

at ! ag5cy2 &  7#c7 if any "p ( ! ag5cy 
is )9 ! jurisdiction ( an inspector     
g5]al1 %all include a writt5 assessm5t  
by ! ,inspector ,g5]al ( ! pot5tial =   
conflicts ( int]e/ to arise 9 connection
 ) ! p]=mance ( (ficial duties by (fic]s
 & employees describ$ 9 subsection 7a74 
7e7 ,evaluation ,if an ag5cy has issu$ a
 prohibit$ hold+s regulation prior to ! 
date ( enactm5t ( ?is ,act1 ! ag5cy head
 %all evaluate :e!r t regulation %\ld   
cov] any additional types ( int]e/s n   
curr5tly cov]$4 ,if ! ag5cy head        
det]m9es t expansion ( ! regulation's   
cov]age is n curr5tly w>rant$1 ! ag5cy  
head %all s advise ,congress 9 writ+ &  
%all n be requir$ to issue a new        
regulation "u ?is ,act4  7f7 ,waiv]s    
,any regulation prohibit+ pot5tially    
conflict+ f9ancial int]e/s1 :e!r issu$  
pursuant to ?is ,act or prior to ! date 
( enactm5t ( ?is ,act1 may1 if deem$    
appropriate by bo? ! ag5cy head & !     
,director ( ! ,(fice ( ,gov]nm5t ,e?ics1
 p]mit individual waiv]s 9 unusual      

circum/ances1 provid$ t ! regulation    
requires ! ag5cy to submit ! waiv] to ! 
,director = publication on ! (ficial    
website ( ! ,(fice ( ,gov]nm5t ,e?ics1  
subject to applicable r\t9e de/ruction  
requirem5ts4