Sec. 9. OTHER FEDERAL OFFICIALS
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## SEC. 9 OTHER FEDERAL OFFICIALS ###
(a)Prohibition of the Use of Nonpublic Information for Private Profit ####
(1)Executive branch employees The Office of Government Ethics shall issue such interpretive guidance of the relevant Federal ethics statutes and regulations, including the Standards of Ethical Conduct for executive branch employees, related to use of nonpublic information, as necessary to clarify that no executive branch employee may use nonpublic information derived from such person’s position as an executive branch employee or gained from the performance of such person’s official responsibilities as a means for making a private profit. ####
(2)Judicial officers The Judicial Conference of the United States shall issue such interpretive guidance of the relevant ethics rules applicable to Federal judges, including the Code of Conduct for United States Judges, as necessary to clarify that no judicial officer may use nonpublic information derived from such person’s position as a judicial officer or gained from the performance of such person’s official responsibilities as a means for making a private profit. ####
(3)Judicial employees The Judicial Conference of the United States shall issue such interpretive guidance of the relevant ethics rules applicable to judicial employees as necessary to clarify that no judicial employee may use nonpublic information derived from such person’s position as a judicial employee or gained from the performance of such person’s official responsibilities as a means for making a private profit. ###
(b)Application of Insider Trading Laws ####
(1)Affirmation of non-exemption **[**[15 U.S.C. 78j note](/us/usc/t15/s78j)**]** Executive branch employees, judicial officers, and judicial employees are not exempt from the insider trading prohibitions arising under the securities laws, including section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. ####
(2)Duty #####
(A)Purpose **[**[15 U.S.C. 78u-1 note](/us/usc/t15/s78u-1)**]** The purpose of the amendment made by this paragraph is to affirm a duty arising from a relationship of trust and confidence owed by each executive branch employee, judicial officer, and judicial employee. #####
(B)Amendment Section 21A of the Securities Exchange Act of 1934 (15 U.S.C. 78u-1), as amended by this Act, is amended by adding at the end the following: > > ### “(h) Duty of Other Federal Officials > > > #### “(1) In general > > Subject to the rule of construction under section 10 of the STOCK Act and solely for purposes of the insider trading prohibitions arising under this Act, including section 10(b), and Rule 10b-5 thereunder, each executive branch employee, each judicial officer, and each judicial employee owes a duty arising from a relationship of trust and confidence to the United States Government and the citizens of the United States with respect to material, nonpublic information derived from such person’s position as an executive branch employee, judicial officer, or judicial employee or gained from the performance of such person’s official responsibilities. > > > #### “(2) Definitions > > In this subsection— > > > ##### “(A) > > the term ‘executive branch employee’— > > > ###### “(i) > > has the meaning given the term ‘employee’ under section 2105 of title 5, United States Code; > > > ###### “(ii) > > includes— > > > ###### “(I) > > the President; > > > ###### “(II) > > the Vice President; and > > > ###### “(III) > > an employee of the United States Postal Service or the Postal Regulatory Commission; > > > ##### “(B) > > the term ‘judicial employee’ has the meaning given that term in section 109(8) of the Ethics in Government Act of 1978 (5 U.S.C. App. 109(8)); and > > > ##### “(C) > > the term ‘judicial officer’ has the meaning given that term under section 109(10) of the Ethics in Government Act of 1978 (5 U.S.C. App. 109(10)). > > > #### “(3) Rule of construction > > Nothing in this subsection shall be construed to impair or limit the construction of the existing antifraud provisions of the securities laws or the authority of the Commission under those provisions.” > .
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