H.R. 3550 (112th): Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act

Introduced:
Dec 02, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Sean Duffy [R-WI7]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on December 2, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 02, 2011
Referred to Committee Dec 02, 2011
Cosponsors
6 cosponsors (5R, 1D) (show)
Committees

House House Administration

House Oversight and Government Reform

House Judiciary

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Ethics in Government Act of 1978 to require certain individuals subject to that Act to either place their securities in a blind trust or to report the sale, purchase, or exchange of securities.

Summary

No summaries available.

Text

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Last updated Dec 02, 2011.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

12/2/2011--Introduced.
Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act or RESTRICT Act - Amends the Ethics in Government Act of 1978 to require the President, the Vice President, Members of Congress, and certain federal officers and employees to:
(1) place all of his or her stocks, bonds, commodities futures, and other forms of securities, including securities held jointly with a spouse or dependent child, in a qualified blind trust; or
(2) file a report with the appropriate ethics officer, within three business days after a transaction is settled, on any purchase, sale, or exchange in stocks, bonds, commodities futures, and other forms of securities, including those jointly held with the individual's spouse or dependent child.
Exempts from this requirement any financial interests in or income derived from:
(1) the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including the Thrift Savings Plan (TSP);
(2) any other federal retirement system for U.S. officers and employees, including the President, or for members of the uniformed services; or
(3) benefits received under the Social Security Act. Subjects violators of this Act to specified civil and criminal penalties.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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