Sec. 1305. Revolving door restrictions on financial services regulators moving into the private sector
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/bill/115/s/1880/is/section-1305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 207 of title 18, United States Code, is amended— by redesignating subsections
(e)through
(l)as subsections
(f)through (m), respectively; and by inserting after subsection
(d)the following: In addition to the restrictions set forth in subsections (a), (b), (c), and (d), a covered financial services regulator shall not— during the 2-year period beginning on the date his or her employment as a covered financial services regulator ceases— knowingly act as agent or attorney for, or otherwise represent, any other person for compensation (except the United States) in any formal or informal appearance before; with the intent to influence, make any oral or written communication on behalf of any other person (except the United States) to; or knowingly aid, advise, or assist in— representing any other person (except the United States) in any formal or informal appearance before; or making, with the intent to influence, any oral or written communication on behalf of any other person (except the United States) to, any court of the United States, or any officer or employee thereof, in connection with any judicial or other proceeding, which was actually pending under his or her official responsibility as a covered financial services regulator during the 1-year period ending on the date his or her employment as a covered financial services regulator ceases or in which he or she participated personally and substantially as a covered financial services regulator; or during the 2-year period beginning on the date his or her employment as a covered financial services regulator ceases— knowingly act as a lobbyist or agent for, or otherwise represent, any other person for compensation (except the United States) in any formal or informal appearance before; with the intent to influence, make any oral or written communication or conduct any lobbying activities on behalf of any other person (except the United States) to; or knowingly aid, advise, or assist in— representing any other person (except the United States) in any formal or informal appearance before; or making, with the intent to influence, any oral or written communication or conduct any lobbying activities on behalf of any other person (except the United States) to, any department or agency of the executive branch or Congress (including any committee of Congress), or any officer or employee thereof, in connection with any matter which is pending before the department, agency, or Congress. Any person who violates paragraph
(1)shall be punished as provided in section 216. In this subsection— the term covered financial services regulator has the meaning given that term under section 601 of the Ethics in Government Act of 1978 (5 U.S.C. App.); and the terms lobbyist and lobbying activities have the meanings given such terms in section 3 of the Lobbying Disclosure Act of 1995 ( 2 U.S.C. 1602 ). . Section 103(a) of the Honest Leadership and Open Government Act of 2007 ( 2 U.S.C. 4702(a) ) is amended by striking section 207(e) each place it appears and inserting section 207(f) . Section 207 of title 18, United States Code, as amended by subsection (a), is amended— in subsection (g), as so redesignated, by striking or
(e)and inserting or
(f); in subsection (j)(1)(B), as so redesignated, by striking subsection
(f)and inserting subsection
(g); and in subsection (k), as so redesignated— in paragraph (2), in the matter preceding subparagraph (A), by striking and
(e)and inserting (e), and
(f); in paragraph (4), by striking and
(e)and inserting (e), and
(f); and in paragraph (7)— in subparagraph (A), by striking and
(e)and inserting (e), and
(f); and in subparagraph (B)(ii), in the matter preceding subclause (I), by striking subsections (c), (d), or
(e)and inserting subsection (c), (d), (e), or
(f). Section 141(b)(3) of the Trade Act of 1974 ( 19 U.S.C. 2171(b)(3) ) is amended by striking section 207(f)(3) and inserting 207(g)(3) . Section 7802(b)(3)(B) of the Internal Revenue Code of 1986 is amended by striking and
(f)of section 207 and inserting and
(g)of section 207 . Section 106(p)(6)(I)(ii) of title 49, United States Code, is amended by striking and
(f)of section 207 and inserting and
(g)of section 207 .
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Sec. 1305
Revolving door restrictions on financial services regulators moving into the private sector
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