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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Feb 1, 2017.
Financial Services Conflict of Interest Act
This bill amends the Ethics in Government Act of 1978 and other laws to:
expand restrictions on federal government employees' acceptance of compensation from nongovernment sources, generally require certain financial-services regulators to recuse themselves from any official action that would provide a direct and substantial pecuniary benefit for a recent former employer or client, generally prohibit such a regulator from participating in matters that involve an individual or entity with whom the regulator is negotiating future employment, prohibit a federal government employee from participating in a procurement involving a contractor that had recently employed that employee, and expand restrictions on lobbying by certain former financial-services regulators.