Federal Conflict of Interest Act

Federal Conflict of Interest Act - Declares the purpose of the Act to be: (1) to circumscribe the Government activities of persons whose prior employment was with a regulated group; (2) to permit judicial enforcement by private persons of the provisions of this Act; and (3) to establish an independent mechanism for the purpose of monitoring the enforcement of existing conflict of interest statutes.

Provides that no officer or employee in the executive branch of the Federal Government, whose rate of pay is equal to or greater than the rate established for level GS-16 in the General Schedule or who occupies a professional or technical position with duties of a nature that the employee could cause an economic advantage for or handicap against a special interest in the discharge of his official duties and responsibilities or who occupies a management, administrative, or investigative position, in either regulatory or management echelons, where his actions are likely to have a significant impact on special interest enterprises, shall: (1) participate in any Federal regulatory action or policy decision which involves any special interest in which such officer or employee had a substantial economic involvement any time during a period of two years prior to the commencement of the term of office or employment of such officer or employee; or (2) participate in any Federal regulatory action or policy decision involving any subject matter concerning which such officer or employee has been involved or participated personally for or represented a special interest any time during a period of ten years prior to the commencement of the term of office or employment of such officer or employee.

Requires any such individual, within thirty days of the commencement of any Federal office or employment, to submit to the head of the agency or entity in connection with which such office or employment is held a detailed statement of such officer's or employee's former substantial economic involvement with any special interests. Requires such statement to include the dates and a comprehensive description of such substantial economic involvement, including all work done for such special interest in connection with the Federal Government.

Makes it the duty of every officer and employee of the United States having the authority to do so to dismiss any other officer or employee who takes or holds office or employment in violation of this Act, and any person may by action in the nature of mandamus compel any office or employee of the United States to execute the duty imposed by this Act.