,,ii  #aah? ,,congress  #a/ ,session    
,s4 #fic  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #g1 #bjbc,mr4     
,hawley introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,homel& ,security & ,gov]nm5tal ,affairs
  ,a ,,bill  ,to am5d *apt] #aca ( title
 #e1 ,unit$ ,/ates ,code1 to prohibit   
c]ta9 executive bran* (ficials f hold+  
individual /ocks1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,elim9at+ ,executive ,bran* ,insid]     
,trad+ ,act4  #b4 ,s5se ( ,congress ,x  
is ! s5se ( ,congress t executive bran* 
(ficials %\ld n h a p]sonal f9ancial    
int]e/ 9 ! outcome ( ,gov]nm5t policy   
decisions4  #c4 ,bann+ insid] trad+ 9 ! 
executive bran*  7a7 ,9 g5]al ,*apt]    
#aca ( title #e1 ,unit$ ,/ates ,code1 is
 am5d$ by add+ at ! end ! foll[+3  ,,iv 
,bann+ insid] trad+ 9 ! executive bran* 
#acafa4 ,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 or  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 cov]$ individual :o is a 
sp\se or dep5d5t ( an individual        
describ$ 9 subp>agraphs 7,a7 ?r\gh 7,e7 
( p>agraph 7#b74  7#b7 ,cov]$ individual
 ,! t]m cov]$ individual means-- 7,a7 ! 
,presid5t2  7,b7 ! ,vice ,presid5t2     
7,c7 ea* (fic] or employee 9 ! executive
 bran*1 includ+ a special ,gov]nm5t     

employee z def9$ 9 section #bjb ( title 
#ah1 :o occupies a position classifi$   
,,gs-#ae or above ( ! ,g5]al ,s*$ule or1
 9 ! case ( positions n "u ! ,g5]al     
,s*$ule1 = :i* ! rate ( basic pay is    
equal to or great] ?an #abj p]c5t ( !   
m9imum rate ( basic pay payable =       
,,gs-#ae ( ! ,g5]al ,s*$ule2  7,d7 ea*  
memb] ( a uni=m$ s]vice ^: pay grade is 
at or 9 excess ( ,o-#g "u section #bja (
 title #cg2  7,e7 ea* (fic] or employee 
9 any o!r position det]m9$ by !         
,director ( ! ,(fice ( ,gov]nm5t ,e?ics 
to be ( equal classification to !       
positions describ$ 9 subp>agraphs 7,c7 &
 7,d72 &  7,f7 ! sp\se ( any individual 
describ$ 9 subp>agraphs 7,a7 ?r\gh 7,e74
  7#c7 ,qualifi$ bl9d tru/ ,! t]m       
qualifi$ bl9d tru/ has ! mean+ giv5 !   
t]m 9 section #acajd7;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  #acafb4 ,prohibition  
on c]ta9 transactions & hold+s involv+  
cov]$ f9ancial in/rum5ts  7a7           
,prohibition ,except z provid$ 9        
subsection 7b71 cov]$ individual1 or any
 sp\se ( a cov]$ individual1 may n1 dur+
 ! t]m ( s]vice ( ! cov]$ individual1   
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 cov]$       
individual1 or a sp\se ( a cov]$        
individual1 t is complet$ by ! date t   
is-- 7,a7 = a cov]$ individual s]v+ on !
 date ( enactm5t ( ! ,elim9at+          
,executive ,bran* ,insid] ,trad+ ,act1  
#ahj days aft] t date ( enactm5t2 &     
7,b7 = any cov]$ individual :o comm5ces 
s]vice z a cov]$ individual aft] ! date 
( enactm5t ( ,elim9at+ ,executive ,bran*
 ,insid] ,trad+ ,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 ! cov]$ individual or  

sp\se ( ! cov]$ individual4  7c7        
,p5alties  7#a7 ,disgorgem5t ,a cov]$   
individual %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 ,f9es ,a 
cov]$ individual :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 ! ,attorney ,g5]al "u    
section #acafc4  #acafc4 ,civil p5alties
  7a7 ,civil action ,! ,attorney ,g5]al 
may br+ a civil action 9 any appropriate
 ,unit$ ,/ates di/rict c\rt aga9/ any   
cov]$ individual :o violates any        
provision ( section #acafb4  7b7 ,civil 
p5alty ,! c\rt 9 :i* any action is      
br\ght "u subsection 7a7 may assess     
aga9/ a cov]$ individual a civil p5alty 
( n m ?an #aj1jjj or ! am\nt (          
comp5sation1 if any1 t ! cov]$          
individual receiv$ = ! prohibit$        

conduct1 :i*ev] is great]4  #acafd4     
,audit by ,gov]nm5t ,acc\ntability      
,(fice ,n lat] ?an #b ye>s aft] ! date (
 enactm5t ( ! ,elim9at+ ,executive      
,bran* ,insid] ,trad+ ,act1 & annually  
!reaft]1 ! ,comptroll] ,g5]al ( ! ,unit$
 ,/ates %all-- 7#a7 conduct an audit ( !
 compliance by a repres5tative sample ( 
cov]$ individuals ) ! requirem5ts ( ?is 
sub*apt]2 &  7#b7 submit to ! sup]vis+  
e?ics committees a report describ+ !    
results ( ! audit conduct$ "u p>agraph  
7#a74  4  7b7 ,cl]ical am5dm5t ,! table 
( sections = *apt] #aca ( title #e1     
,unit$ ,/ates ,code1 is am5d$ by add+ at
 ! end ! foll[+3  ,,sub*apt]            
,,iv--,bann+ insid] trad+ 9 ,congress   
#acafa4 ,def9itions4 #acafb4            
,prohibition on c]ta9 transactions &    
hold+s involv+ cov]$ f9ancial in/rum5ts4
 #acafc4 ,civil p5alties4#acafd4 ,audit 
by ,gov]nm5t ,acc\ntability ,(fice4  4