Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act

Legislation AI Summary:

The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act aims to prohibit Members of Congress and their spouses from holding, purchasing, or selling covered financial instruments, including securities, derivatives, and commodities, during their term of service to prevent conflicts of interest and insider trading. The Act outlines specific definitions and exemptions (such as diversified mutual funds and U.S. Treasury securities), requires annual certification of compliance published publicly, and grants ethics committees authority to enforce rules, assess civil fines, and provide compliance guidance. Enforcement includes disgorgement of profits and penalties amounting to 10% of the value of non-divested instruments. The Act also mandates a Government Accountability Office audit within two years of enactment to assess compliance. This legislation promotes transparency and ethical conduct among elected officials in managing financial interests.

Voting Information:

No Voting Information

Main Party Sponsoring:

Democrat

Bill Sponsor:

Josh Hawley

Latest Action:

Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

Legislation AI Categories:

Campaign Finance and Electoral Reform

Date:

July 30, 2025

Official Bill Link: