Sec. 7. REPORT ON POLITICAL INTELLIGENCE ACTIVITIES

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 7 REPORT ON POLITICAL INTELLIGENCE ACTIVITIES ###

(a)Report ####

(1)In general Not later than 12 months after the date of enactment of this Act, the Comptroller General of the United States, in consultation with the Congressional Research Service, shall submit to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Oversight and Government Reform and the Committee on the Judiciary of the House of Representatives a report on the role of political intelligence in the financial markets. ####

(2)Contents The report required by this section shall include a discussion of— #####

(A)what is known about the prevalence of the sale of political intelligence and the extent to which investors rely on such information; #####

(B)what is known about the effect that the sale of political intelligence may have on the financial markets; #####

(C)the extent to which information which is being sold would be considered nonpublic information; #####

(D)the legal and ethical issues that may be raised by the sale of political intelligence; #####

(E)any benefits from imposing disclosure requirements on those who engage in political intelligence activities; and #####

(F)any legal and practical issues that may be raised by the imposition of disclosure requirements on those who engage in political intelligence activities. ###

(b)Definition For purposes of this section, the term “political intelligence” shall mean information that is— ####

(1)derived by a person from direct communications with an executive branch employee, a Member of Congress, or an employee of Congress; and ####

(2)provided in exchange for financial compensation to a client who intends, and who is known to intend, to use the information to inform investment decisions.