S. 265 — Financial Services Conflict of Interest Act

Financial Services Conflict of Interest Act

A bill to prevent conflicts of interest that stem from executive Government employees receiving bonuses or other compensation arrangements from nongovernment sources, from the revolving door that raises concerns about the independence of financial services regulators, and from the revolving door that casts aspersions over the awarding of Government contracts and other financial benefits.

Summary

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.

Related Legislation

H.R. 3537We the People Act of 2017

2017-09-06Referred to the Subcommittee on the Constitution and Civil Justice.

H.R. 3848We the People Democracy Reform Act of 2017

2018-05-22Referred to the Subcommittee on Research and Technology.

S. 1880We the People Democracy Reform Act of 2017

2017-09-27Read twice and referred to the Committee on Finance.

H.R. 859Financial Services Conflict of Interest Act

2017-03-02Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.

Financial Services Conflict of Interest Act

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