I 
112TH CONGRESS 
1ST SESSION H. R. 3550 
To amend the Ethics in Government Act of 1978 to require certain individuals 
subject to that Act to either place their securities in a blind trust 
or to report the sale, purchase, or exchange of securities. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 2, 2011 
Mr. DUFFY introduced the following bill; which was referred to the Committee 
on Oversight and Government Reform, and in addition to the Committees 
on House Administration and the Judiciary, for a period to be subse-
quently determined by the Speaker, in each case for consideration of such 
provisions as fall within the jurisdiction of the committee concerned 
A BILL 
To amend the Ethics in Government Act of 1978 to require 
certain individuals subject to that Act to either place 
their securities in a blind trust or to report the sale, 
purchase, or exchange of securities. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Restoring Ethical 
Standards, Transparency, and Responsibility in Congres-
sional Trading Act’’ or the ‘‘RESTRICT Act’’. 
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SEC. 2. REQUIREMENT TO USE BLIND TRUST OR FILE RE-
PORTS. 
The Ethics in Government Act of 1978 (5 U.S.C. 
App.) is amended by inserting after section 101 the fol-
lowing new section: 
‘‘SEC. 101A. INDIVIDUALS REQUIRED TO ESTABLISH A 
BLIND TRUST OR FILE REPORTS. 
‘‘(a) REQUIREMENT.—Individuals described in sec-
tion 101(f) shall— 
‘‘(1) place all of such individual’s stocks, bonds, 
commodities futures, and other forms of securities, 
including securities held jointly with such individ-
ual’s spouse or dependent child, in a qualified blind 
trust (as defined under section 102(f)(3)); or 
‘‘(2) file a report with the appropriate office 
under section 103 that contains a brief description, 
the date, and category of value of any purchase, 
sale, or exchange in stocks, bonds, commodities fu-
tures, and other forms of securities, including securi-
ties jointly held with such individual’s spouse or de-
pendent child, not later than 3 business days after 
such purchase, sale, or exchange is settled. 
‘‘(b) EXEMPTION.—Subsection (a) shall not apply to 
the financial interests or benefits described under section 
102(i). 
‘‘(c) FAILURE TO COMPLY.— 
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‘‘(1) CIVIL
PENALTY.—The Attorney General 
may bring a civil action in any appropriate United 
States district court against any individual subject 
to subsection (a) who knowingly and willfully fal-
sifies or who knowingly and willfully fails to file a 
report under subsection (a)(2) if such individual 
does not place such individual’s securities in a quali-
fied blind trust under subsection (a)(1). The court 
in which such action is brought may assess against 
such individual a civil penalty in any amount, not to 
exceed $50,000. 
‘‘(2) CRIMINAL PENALTY.— 
‘‘(A) It shall be unlawful for any individual 
subject to subsection (a) to knowingly and will-
ingly falsify any information that such indi-
vidual is required to report under subsection 
(a)(2) or to knowingly and willfully fail to file 
a report under subsection (a)(2) if such indi-
vidual does not place such individual’s securities 
in a qualified blind trust under subsection 
(a)(1). 
‘‘(B) Any individual subject to subsection 
(a) who violates subparagraph (A) shall be 
fined under title 18, United States Code.’’. 
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SEC. 3. EFFECTIVE DATE. 
The amendments made by section 2 shall take effect 
30 days after the date of the enactment of this Act. 
Æ 
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