[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 480 Introduced in House (IH)]

112th CONGRESS
  1st Session
H. RES. 480

Amending the Rules of the House of Representatives to prohibit Members, 
Delegates, the Resident Commissioner, and officers and employees of the 
    House from buying or selling securities while in possession of 
        material, nonpublic information, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            December 1, 2011

 Mr. Canseco submitted the following resolution; which was referred to 
                        the Committee on Ethics

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                               RESOLUTION


 
Amending the Rules of the House of Representatives to prohibit Members, 
Delegates, the Resident Commissioner, and officers and employees of the 
    House from buying or selling securities while in possession of 
        material, nonpublic information, and for other purposes.

    Resolved, That rule XXIII of the Rules of the House of 
Representatives (known as the ``Code of Official Conduct'') is amended 
by redesignating clause 18 as clause 20 and by inserting after clause 
17 the following new clauses:
    ``18.(a) A Member, Delegate, or Resident Commissioner shall place 
into a blind trust all securities, commodities for future delivery, 
security-based swaps, or swaps that are transacted on or through the 
facilities of a national securities exchange or from or through a 
broker or dealer, unless such individual files with the Clerk a 
detailed disclosure report of all transactions of securities, 
commodities for future delivery, security-based swaps, or swaps no 
later than 5 business days after the last day of a calendar month in 
which a transaction is completed.
    ``(b) The detailed disclosure report referred to in paragraph (a) 
shall include the date of all transactions, exact amount of securities, 
commodities for future delivery, security-based swaps, or swaps bought 
or sold in the transaction, the exact financial details of the 
transaction, and any other information as determined by the Committee 
on Ethics.
    ``(c) The Clerk shall make available to the public a detailed 
summary of each such disclosure report in a manner prescribed by the 
Committee on Ethics no later than 60 calendar days after the end of the 
applicable 5-business day filing period.
    ``19. A Member, Delegate, Resident Commissioner, or officer or 
employee of the House shall not purchase or sell a security, commodity 
for future delivery, security-based swap, or swap, on or through the 
facilities of a national securities exchange or from or through a 
broker or dealer, while in possession of material, nonpublic 
information (as determined by the Committee on Ethics) obtained by 
reason of employment in the House.''.
    Sec. 2.  The amendment made by the first section of this resolution 
shall take effect 90 days after the date of its adoption.
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