CLAMPING DOWN: House Democrats introduce bill to ban lawmakers and their families from trading stock
introduced legislation Tuesday that would prohibit federal officials from trading stocks in an effort to curb potential conflicts of interest.
But the legislation does allow officials to place their money in other investments, including diversified mutual funds and exchange-traded funds; US Treasury bills, bonds and notes; and state and municipal bonds. Individuals who do not file their financial reports on time would be subject to a $500 fine, up from the current $200. For each subsequent 30 days, they would have to pay an additional $500 fine plus 10 percent of the value of the transactions that should have been included in the report.
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