3.0.0 3076 2022-12-30T07:48:45Z 2023-01-01T23:48:37Z Senate S 2021-10-26 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2021-10-26T21:36:46Z 2021-10-26 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2021-10-26 Introduced in Senate IntroReferral 10000 9 Library of Congress B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH N G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2021-10-26 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2021-10-26 True W000790 Sen. Warnock, Raphael G. [D-GA] Raphael Warnock D GA G. 2021-10-26 True O000174 Sen. Ossoff, Jon [D-GA] Jon Ossoff D GA 2021-11-16 False Finance and Financial Sector Finance and Financial Sector 00 2021-10-26 Introduced in Senate 2022-05-13T12:57:29Z Ban Conflicted Trading at the Fed Act

This bill imposes investment restrictions on certain Federal Reserve employees.

Specifically, members of the Board of Governors of the Federal Reserve System and presidents or vice presidents of a Federal Reserve bank are prohibited from (1) purchasing or selling a specified investment, including an investment in a security, a commodity, virtual currency, or a future; or (2) entering into a transaction that creates a net short position in a security. (A short position is an investment strategy employed when an investor anticipates a short term decrease in the investment's price.) Investments held prior to taking office may not be bought or sold, except for approved placement in a blind trust or divestiture during a specified time period.

Further, Federal Reserve bank presidents, vice presidents, and directors must make annual and periodic financial and transaction disclosures.

Finally, the Board of Governors of the Federal Reserve System must issue rules within 90 days of enactment requiring Federal Reserve board members, presidents, vice presidents, and senior staff (1) to provide 45 days advance notice of investment transactions, and (2) to hold investments for at least 1 year from the date of transaction.

]]> Ban Conflicted Trading at the Fed Act Display Title Ban Conflicted Trading at the Fed Act Short Title(s) as Introduced Ban Conflicted Trading at the Fed Act Introduced in Senate IS Official Title as Introduced A bill to amend the Federal Reserve Act to prohibit officers of the Federal Reserve from trading certain securities, and for other purposes. Introduced in Senate IS Introduced in Senate 2021-10-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s3076is/xml/BILLS-117s3076is.xml 2021-10-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.