Prohibits Members of Congress from holding, purchasing, or selling certain financial instruments.
The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act bans Members of Congress and their spouses from holding, purchasing, or selling covered financial instruments. These include investments in securities, security futures, and commodities. The bill defines covered financial instruments and exempts certain holdings like diversified mutual funds and U.S. Treasury securities. Members must certify compliance annually, and ethics committees publish these certifications. Noncompliance results in civil fines, with appeals possible in Congress.
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