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HR3388119th CongressWALLET

Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act

Sponsored By: Representative Alford, Mark [R-MO-4]

Introduced

Summary

Banning insider trading by Members of Congress. This bill would bar Members and their spouses from holding, purchasing, or selling most stocks, security futures, commodities, and similar synthetic instruments while the Member serves.

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  • Members and families: Members and their spouses would have to divest covered financial instruments during the Member's term. Current Members would be allowed to complete sales within 180 days after enactment and new Members would have 180 days after the start of their first term to sell.
  • Enforcement and penalties: The House and Senate ethics committees would enforce the ban, require annual certifications, and could order disgorgement of profits. They could also assess civil fines equal to 10 percent of the value of each nondivested instrument and apply penalties every 30 days after notice.
  • Transparency and oversight: Certifications and fines would be published on public websites. The Government Accountability Office would audit compliance and report to the ethics committees within two years.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 2 costs, 0 mixed.

Fines and audits for Members' investing

If enacted, a Member who breaks the ban would have to give any profit from the trade to the U.S. Treasury. Ethics committees could fine the Member after written notice and a chance to be heard and to fix the issue. Fines could start 30 days after notice and at least every 30 days while the Member stays out of compliance. Each fine would equal 10% of the value of each covered investment not sold during that period. Members would also have to certify at least once a year that they follow the rule, and committees would post those certifications and any fines online. The Comptroller General would audit compliance within two years and report results to the ethics committees.

Members banned from owning most investments

This bill would bar Members of Congress and their spouses from holding, buying, or selling most investments while the Member serves. The ban would cover stocks, most bonds, commodities, and similar bets made through options, warrants, or other derivatives. It would still allow diversified mutual funds, diversified ETFs, and U.S. Treasury bills, notes, or bonds. Current Members would have 180 days after enactment to sell covered holdings. New Members would have 180 days after their first day in office to sell.

Sponsors & CoSponsors

Sponsor

Alford, Mark [R-MO-4]

MO • R

Cosponsors

  • Rep. Steube, W. Gregory [R-FL-17]

    FL • R

    Sponsored 5/15/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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