,,ii #aaith ,,congress #b;d ,session ,s4 #djag ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #e1 #bjbf,mr4 ,merkley 7for himself1 ,ms4 ,klobuchar1 ,mr4 ,van ,hollen1 ,mr4 ,schiff1 and ,mrs4 ,gillibrand7 introduced the following bill2 which was read twice and referred to the ,committee on ,agriculture1 ,nutrition1 and ,forestry ,a ,,bill ,to amend the ,commodity ,exchange ,act to ban certain ,government officials from trading event contracts1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,end ,prediction ,market ,corruption ,act4 #b4 ,ban on trading event contracts by certain ,government officials ,section #e;c of the ,commodity ,exchange ,act 7#g ,u4,s4,c4 #g;a-#b7 is amended by inserting after subsection 7c7 the following3 7d7 ,ban on trading event contracts by certain ,government officials 7#a7 ,definitions ,in this subsection3 7,a7 ,covered individual ,the term covered individual means-- 7i7 the ,president2 7ii7 the ,vice ,president2 and 7iii7 a ,member of ,congress4 7,b7 ,event contract ,the term event contract means an agreement1 contract1 transaction1 or swap in an excluded commodity that is based on an occurrence1 extent of an occurrence of1 or contingency4 7,c7 ,material nonpublic information ,the term material nonpublic information means information-- 7i7 that a reasonable investor would consider important in making a decision regarding purchasing1 selling1 or otherwise exchanging an agreement or contract in a commodity or a commodity for future delivery2 and 7ii7 that is not publicly available4 7,d7 ,member of ,congress ,the term ,member of ,congress has the meaning given the term in section #acaja of title #e1 ,united ,states ,code4 7,e7 ,senior executive branch official ,the term senior executive branch official means any officer or employee described in any of paragraphs 7#c7 through 7#h7 of section #acajc7;f7 of title #e1 ,united ,states ,code4 7#b7 ,ban on trading event contracts 7,a7 ,covered individuals ,no covered individual may purchase1 sell1 or otherwise exchange an event contract4 7,b7 ,senior executive branch officials ,no senior executive branch official may purchase1 sell1 or otherwise exchange an event contract the subject of which is a matter in which the senior executive branch official participates personally and substantially as a ,government officer or employee1 through decision1 approval1 disapproval1 recommendation1 the rendering of advice1 investigation1 or otherwise1 in a judicial or other proceeding1 application1 request for a ruling or other determination1 contract1 claim1 controversy1 charge1 accusation1 arrest1 or other particular matter4 7#c7 ,civil actions 7,a7 ,in general ,the ,attorney ,general may bring a civil action in the appropriate ,united ,states district court against any individual who engages in conduct in violation of paragraph 7#b74 7,b7 ,civil penalty ,in a civil action under subparagraph 7,a71 if it is demonstrated by a preponderance of the evidence that the individual has violated paragraph 7#b71 the individual shall be subject to a civil penalty of not more than the greater of-- 7i7 #aj1jjj for each violation2 and 7ii7 the amount of profit made through the purchase1 sale1 or exchange of the event contract in violation of paragraph 7#b74 7,c7 ,no preclusion of alternative remedies ,the imposition of a civil penalty under this paragraph does not preclude any other criminal or civil statutory1 common law1 or administrative remedy that is available by law to the ,united ,states or any other person4 7#d7 ,foreign boards of trade 7,a7 ,definition of foreign board of trade ,in this paragraph1 the term foreign board of trade means a board of trade that-- 7i7 is organized under the laws of a non-,united ,states jurisdiction or has its principal place of business outside the ,united ,states2 and 7ii7 avails itself of any means or instrumentality of interstate commerce in the conduct of its business as a board of trade4 7,b7 ,quarterly reports ,each foreign board of trade shall submit to the ,commission quarterly reports describing each purchase1 sale1 or other exchange on the foreign board of trade in violation of paragraph 7#b74 7,c7 ,enforcement ,a foreign board of trade that fails to submit a report required by subparagraph 7,b7 shall be subject to revocation of the registration of the foreign board of trade by the ,commission4 7#e7 ,insider trading ,the ,commission shall issue a rule to restrict the inappropriate use of material nonpublic information1 in breach of an express or implied duty not to use or disclose such material nonpublic information1 as a means of making a profit through the purchase1 sale1 or other exchange of an event contract1 including by requiring designated contract markets to prohibit the purchase1 sale1 or other exchange of an event contract by such individuals as the ,commission determines to be appropriate in the public interest4 4 #c4 ,financial disclosure reports 7a7 ,annual and termination reports ,section #acajd7;a7 of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 7#i7 ,disclosure relating to event contracts 7,a7 ,definitions ,in this paragraph3 7i7 ,covered reporting individual ,the term covered reporting individual means an individual described in paragraphs 7#a7 through 7#aj7 of section #acajc7;f74 7ii7 ,dependent child ,the term dependent child has the meaning given the term in section #acaja4 7iii7 ,event contract ,the term event contract has the meaning given the term in subsection 7d77#a7 of section #e;c of the ,commodity ,exchange ,act 7#g ,u4,s4,c4 #g;a-#b74 7,b7 ,requirement ,each report filed pursuant to subsection 7d7 or 7e7 of section #acajc by a covered reporting individual shall include-- 7i7 a statement of whether1 during the period covered by the report1 the covered reporting individual1 or the spouse or dependent child of the covered reporting individual1 purchased1 sold1 or otherwise exchanged an event contract2 and 7ii7 with respect to any event contract described in clause 7i71 a description of the event contract and the value of the event contract4 4 7b7 ,periodic event contract transaction reports ,section #acaje of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 7m7 ,periodic event contract transaction reports 7#a7 ,definitions ,for purposes of this subsection1 the terms covered reporting individual and event contract have the meanings given those terms in section #acajd7;a77#i77;,a74 7#b7 ,requirement ,not later than #cj days after receiving notification of any event contract transaction required to be reported under section #acajd7;a77#i71 but in no case later than #de days after such event contract transaction1 a covered reporting individual shall file a report of the transaction that includes a description of the event contract that is the subject of the transaction and the value of the event contract4 4