Sec. 501. Restriction
213 words·~1 min read·
/bill/119/hr/5827/ih/section-501·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Rule XXIII of the Rules of the House of Representatives is amended by adding at the end the following: In this Code of Official Conduct, the term covered financial instrument means any investment in a security or security future (as defined by the Securities Exchange Act of 1934) or a commodity (as defined by the Commodity Exchange Act), and any economic interest acquired through synthetic means, such as the use of a derivative, including an option, warrant, or other similar means.
A Member of the House of Representatives may not own or trade a covered financial instrument. Nothing in this paragraph shall be construed to prevent a Member of the House of Representatives from owning or trading a widely held investment fund that is registered as a management company; a United States Treasury bill, note, or bond; any bond issued by a State or local government; or any investment under the Thrift Savings Plan. Each Member of the House of Representatives shall submit to the House Committee on Ethics a pledge of compliance with the requirements of this paragraph and shall produce, upon request of the House Committee on Ethics, material or information determined by the House Committee on Ethics to be necessary to indicate compliance with the provisions of this paragraph. .