Prohibits Members of Congress and their spouses and dependents from owning or trading stocks.
The Public Service Accountability Act amends chapter 131 of title 5 to prohibit Members of Congress and their spouses and dependents from owning or trading stocks. Covered individuals must divest any existing covered investments within 180 days of enactment. The Act defines covered investments as securities, commodities, futures, or similar economic interests. It also mandates that supervising ethics offices publish details of fines assessed and issue certificates of divestiture upon compliance. Violations incur a penalty of 10% of the investment's value.
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