Federal Ethics and Financial Disclosure Act

Federal Ethics and Financial Disclosure Act - Title I: Ethical Conduct - Federal Ethics Act - Prohibits all Federal officers and employees from soliciting or accepting any item of value in excess of $50 from any person with whom such individual is involved in the performance of his official duties. Prohibits the use of an official position to secure any gain, privilege, benefit, exemption or other item of value for the holder of such position or any other person. Prohibits all conduct or personal association which presents to the public an appearance of impropriety. Prohibits nongovernmental employment of a Federal employee or official which interferes with the performance of his official duties and other specified employment which may cause a conflict of interest.

Title II: Financial Disclosure - Financial Disclosure Act - Requires the President, Vice President, Members of Congress and candidates for those offices, justices and judges of the United States, Presidential nominees, officers and employees of the United States compensated at a rate equal to or in excess of the rate prescribed for the grade of GS-16, and members of the uniformed services compensated at a rate equal to or in excess of the monthly rate prescribed for grade 0-7 to file in each calendar year a financial disclosure statement for the preceding calendar year if such individual has occupied or been a candidate for the office or position for more than 90 days in such calendar year. Requires that such statements be filed with the Commission on Ethics and Financial Disclosure Commission created by this Act and with the head of the agency in which such individual works in the case of specified individuals.

Specifies the items which must be reported in such financial statements. Sets forth increments of value to be used in stating the worth or amount of property or financial dealings in such statements. Makes mandatory the conclusion in such report of assets held not only by the individual, but by the spouse, and dependents of such person, and those acting on the individual's behalf.

Permits the President to exempt any individual in the Central Intelligence Agency, the Defense Intelligence Agency, and the National Security Agency, or other person engaged exclusively in intelligence activities from the requirement to file a report with the Comptroller General if such disclosure would reveal the identity of an undercover Federal agent.

Makes failure to file and falsifying reports punishable by a fine or imprisonment, or both.

Requires the Director of the Commission, and other government officers with whom such financial disclosure statements have been filed to make such statements available to the public with due regard for the right to privacy of the person filing such statements and under specified conditions including: (1) that the person filing such statement shall be notified when such statement is given to a requester; (2) that such statement may not be released to be used for unlawful or commercial or solicitation purposes; and (3) in the event the custodian of such statement does not release such statement, he shall state the reason for such denial and specifically state any finding made that no conflict of interest or potential conflict of interest appears in such statement.

Makes the Clerk of the House of Representatives, the Secretary of the Senate, the Director of the Administrative Office of the United States Courts, the Chairman of the Commission, and the head of each agency responsible for the review of such reports in accordance with any law or regulation regarding conflicts of interest or confidential financial information.

Title III: Commission on Ethics and Financial Disclosure - Establishes a Federal Commission on Ethics and Financial Disclosure to investigate and report violations of this Act. Requires the Commission to report any violations to the violator, the Attorney General, and the head of the agency in which such violator works or in the case of the President, Vice President, or Member of Congress, to Congress, in the case of a judge or court employee, to the Director of the Administrative Office of the United States Courts, or in the case of other specified officers of the United States, to the President. Confers the enforcement power under this Act in the Attorney General. Directs the Commission to issue advisory opinions with respect to possible violations of this Act. Makes the Commission subject to the Government in the Sunshine Act.

Title IV: General - Gives the General Accounting Office access to statements filed under this Act.