S.3649

Restore Trust in Congress Act prohibits Members of Congress and their spouses and dependents from owning or trading stocks.

The Restore Trust in Congress Act amends chapter 131 of title 5, United States Code, to prohibit Members of Congress and their spouses and dependents from owning or trading stocks. The Act defines "covered investment" and "covered individual," and establishes an effective date for compliance. It also outlines penalties for violations, including a fee equal to ten percent of the value of the covered investment and disgorgement of profits. The Act allows for exemptions for certain investments, such as those held in a qualified blind trust or a family trust under specific conditions.