Sec. 103. Executive branch conflicts of interest law expansions
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Section 208 of title 18, United States Code, is amended by adding at the end the following: In this subsection and subsection (f), the term Executive agency — has the meaning given the term in section 105 of title 5, United States Code; and includes the Executive Office of the President and all components thereof, including the White House Office and the Office of the Vice President. No officer or employee of an Executive agency may own an interest in or trade (except a trade that is a divestment required or approved by the Director of the Office of Public Integrity or the designated agency ethics official of the Executive agency that employs the individual for compliance with this section) any individual stock, bond, commodity, future, or other form of security, including an interest in a hedge fund, a derivative, option, or other complex investment vehicle if the Director of the Office of Public Integrity (or the designated agency ethics official of the Executive agency that employs the individual) determines that the financial interests of the officer or employee may be directly influenced by an action of the Executive agency.
Subparagraph
(A)shall not apply to— a widely held investment fund described in section 102(f)(8) of the Ethics in Government Act of 1978 ( 5 App. U.S.C. 102(f)(8) ), if such investment meets the requirements described in section 105(b)(2) of the Anti-Corruption and Public Integrity Act ; shares of Settlement Common Stock issued under section 7(g)(1)(A) of the Alaska Native Claims Settlement Act ( 43 U.S.C. 1606(g)(1)(A) ); or shares of Settlement Common Stock, as defined in section 3 of the Alaska Native Claims Settlement Act ( 43 U.S.C. 1602 ). Whoever violates subparagraph
(A)shall be subject to the penalties set forth in section 216 of this title. The Director of the Office of Public Integrity may waive subparagraph
(A)for an officer or employee of an Executive agency on a case-by-case basis if the Director— determines that there is no possibility for, or the appearance of, a conflict of interest; or approves a plan for necessary recusals that ensures that no conflict of interest exists under this section. Except as provided in paragraphs
(2)and (3), each officer and employee of any Executive agency shall not participate personally and substantially as a Government officer or employee, through decision, approval, disapproval, recommendation, the rendering of advice, investigation, or otherwise, in any particular matter, including an adjudication, procurement, or rulemaking, that the officer or employee knows has or is likely to have a direct and predictable effect on the financial interest of— any person for whom the officer or employee had, during the previous 4-year period, served as an officer, director, trustee, general partner, agent, attorney, consultant, contractor, employee, or direct competitor; or any organization other than a political organization described in section 527(e) of the Internal Revenue Code of 1986 in which the employee is an active participant. This subsection shall not apply to— the President; the Vice President; any individual appointed to a position in an Executive agency by and with the advice and consent of the Senate; an officer or employee who served as an officer, director, trustee, general partner, agent, attorney, consultant, contractor, or employee of a tribal organization (as defined in section 4 of the Indian Self-Determination and Education Assistance Act ( 25 U.S.C. 5304 )) or an intertribal consortium of federally recognized Indian tribes with respect to a matter that is likely to have a direct and predictable effect on the financial interest of the tribal organization or intertribal consortium; or any individual who receives a waiver under paragraph (3). The Director of Public Integrity may waive the requirements of this subsection for any officer or employee (except individuals described in subparagraph (C)(iii)). Officers and employees may apply to the Director of Public Integrity for a waiver under this paragraph only if the individual agrees to comply with the Conflicts of Interest Rules for Senior Government Officials in section 105(a) and section 106 of the Anti-Corruption and Public Integrity Act . A waiver made under this paragraph— shall be made publicly available and searchable within 30 days of issuance; shall include a justification sent to Congress within 30 days of issuance explaining why the waiver is in the national interest; and may not be granted if the individual received a waiver under section 102(a)(1)(C) of the Anti-Corruption and Public Integrity Act . The Director of Public Integrity may deny a waiver under this paragraph for any reason. An officer or employee who violates this subsection shall be subject to the penalties set forth in section 216 of this title. .
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