I 
115TH CONGRESS 
1ST SESSION 
H. R. 859 
To prevent conflicts of interest that stem from executive Government employ-
ees receiving bonuses or other compensation arrangements from non-
government sources, from the revolving door that raises concerns about 
the independence of financial services regulators, and from the revolving 
door that casts aspersions over the awarding of Government contracts 
and other financial benefits. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 3, 2017 
Mr. CUMMINGS introduced the following bill; which was referred to the Com-
mittee on Oversight and Government Reform, and in addition to the 
Committees on the Judiciary, and Financial Services, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
of such provisions as fall within the jurisdiction of the committee con-
cerned 
A BILL 
To prevent conflicts of interest that stem from executive 
Government employees receiving bonuses or other com-
pensation arrangements from nongovernment sources, 
from the revolving door that raises concerns about the 
independence of financial services regulators, and from 
the revolving door that casts aspersions over the award-
ing of Government contracts and other financial benefits. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Services 
Conflict of Interest Act’’. 
SEC. 2. RESTRICTIONS ON PRIVATE SECTOR PAYMENT FOR 
GOVERNMENT SERVICE. 
Section 209 of title 18, United States Code, is 
amended— 
(1) in subsection (a)— 
(A) by striking ‘‘any salary’’ and inserting 
‘‘any bonus or salary’’; and 
(B) by striking ‘‘his services’’ and inserting 
‘‘services rendered or to be rendered’’; and 
(2) in subsection (b)— 
(A) by inserting ‘‘(1)’’ after ‘‘(b)’’; and 
(B) by adding at the end the following: 
‘‘(2) For purposes of paragraph (1), a pension, retire-
ment, group life, health or accident insurance, profit-shar-
ing, stock bonus, or other employee welfare or benefit plan 
that makes payment of compensation contingent on ac-
cepting a position in the Federal Government shall not 
be considered bona fide. 
‘‘(3) For purposes of paragraph (2), compensation in-
cludes a retention award or bonus, severance pay, and any 
other payment linked to future service in the Federal Gov-
ernment in any way.’’. 
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SEC. 3. REQUIREMENTS RELATING TO SLOWING THE RE-
VOLVING DOOR AMONG FINANCIAL SERVICES 
REGULATORS. 
(a) IN GENERAL.—The Ethics in Government Act of 
1978 (5 U.S.C. App.) is amended by adding at the end 
the following: 
‘‘TITLE VI—SPECIAL REQUIRE-
MENTS FOR FINANCIAL SERV-
ICES REGULATORS 
‘‘SEC. 601. DEFINITIONS. 
‘‘(a) IN GENERAL.—In this title, the terms ‘des-
ignated agency ethics official’ and ‘executive branch’ have 
the meanings given those terms under section 109. 
‘‘(b) OTHER DEFINITIONS.—In this title: 
‘‘(1) COVERED FINANCIAL SERVICES AGENCY.— 
The term ‘covered financial services agency’— 
‘‘(A) means a primary financial regulatory 
agency (as defined in section 2 of the Dodd- 
Frank Wall Street Reform and Consumer Pro-
tection Act (12 U.S.C. 5301)); and 
‘‘(B) includes— 
‘‘(i) the Board of Governors of the 
Federal Reserve System; 
‘‘(ii) the Office of the Comptroller of 
the Currency; 
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‘‘(iii) the Federal Deposit Insurance 
Corporation; 
‘‘(iv) the National Credit Union Ad-
ministration; 
‘‘(v) the Securities and Exchange 
Commission; 
‘‘(vi) the Federal Housing Finance 
Agency; 
‘‘(vii) the Bureau of Consumer Finan-
cial Protection; 
‘‘(viii) the Commodity Futures Trad-
ing Commission; 
‘‘(ix) the Department of the Treasury; 
‘‘(x) the National Economic Council; 
and 
‘‘(xi) the Council of Economic Advi-
sors. 
‘‘(2) COVERED
FINANCIAL
SERVICES
REGU-
LATOR.—The term ‘covered financial services regu-
lator’ means an officer or employee of a covered fi-
nancial services agency who occupies— 
‘‘(A) a supervisory position classified above 
GS–15 of the General Schedule; 
‘‘(B) in the case of a position not under 
the General Schedule, a supervisory position for 
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ulator did not personally provide such serv-
ices. 
‘‘(5) FORMER EMPLOYER.—The term ‘former 
employer’— 
‘‘(A) means a person for whom a covered 
financial services regulator served as an em-
ployee, officer, director, trustee, or general part-
ner during the 2-year period ending on the date 
(after such service) on which the covered finan-
cial services regulator begins service in the Fed-
eral Government; and 
‘‘(B) does not include— 
‘‘(i) an entity in the Federal Govern-
ment, including an executive branch agen-
cy; 
‘‘(ii) a State or local government; 
‘‘(iii) the District of Columbia; 
‘‘(iv) an Indian tribe, as defined in 
section 4 of the Indian Self-Determination 
and Education Assistance Act (25 U.S.C. 
5304); or 
‘‘(v) the government of a territory or 
possession of the United States. 
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‘‘SEC. 602. CONFLICT OF INTEREST AND ELIGIBILITY 
STANDARDS FOR FINANCIAL SERVICES REG-
ULATORS. 
‘‘(a) IN GENERAL.—A covered financial services reg-
ulator shall not make, participate in making, or in any 
way attempt to use the official position of the covered fi-
nancial services regulator to influence a particular matter 
that provides a direct and substantial pecuniary benefit 
for a former employer or former client of the covered fi-
nancial services regulator. 
‘‘(b) RECUSAL.—A covered financial services regu-
lator shall recuse himself or herself from any official ac-
tion that would violate subsection (a). 
‘‘(c) WAIVER.— 
‘‘(1) IN GENERAL.—The head of the covered fi-
nancial services agency employing a covered financial 
services regulator, in consultation with the Director, 
may grant a written waiver of the restrictions under 
subsection (a) if, and to the extent that, the head of 
the covered financial services agency certifies in 
writing that— 
‘‘(A) the application of the restriction to 
the particular matter is inconsistent with the 
purposes of the restriction; or 
‘‘(B) it is in the public interest to grant 
the waiver. 
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‘‘(2) PUBLICATION.—The Director shall make 
each waiver under paragraph (1) publicly available 
on the Web site of the Office of Government Ethics. 
‘‘SEC. 603. NEGOTIATING FUTURE PRIVATE SECTOR EM-
PLOYMENT. 
‘‘(a) PROHIBITION.—Except as provided in sub-
section (c), and notwithstanding any other provision of 
law, a covered financial services regulator may not partici-
pate in any particular matter which involves, to the knowl-
edge of the covered financial services regulator, an indi-
vidual or entity with whom the covered financial services 
regulator is in negotiations of future employment or has 
an arrangement concerning prospective employment. 
‘‘(b) DISCLOSURE
OF
EMPLOYMENT
NEGOTIA-
TIONS.— 
‘‘(1) IN GENERAL.—If a covered financial serv-
ices regulator begins any negotiations of future em-
ployment with another person, or an agent or inter-
mediary of another person, or other discussion or 
communication with another person, or an agent or 
intermediary of another person, mutually conducted 
with a view toward reaching an agreement regarding 
possible employment of the covered financial services 
regulator, the covered financial services regulator 
shall notify the designated agency ethics official of 
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the covered financial services agency employing the 
covered financial services regulator regarding the ne-
gotiations, discussions, or communications. 
‘‘(2) INFORMATION.—A designated agency eth-
ics official receiving notice under paragraph (1), 
after consultation with the Director, shall inform the 
covered financial services regulator of any potential 
conflicts of interest involved in any negotiations, dis-
cussions, or communications with the other person 
and the applicable prohibitions. 
‘‘(c) WAIVERS ONLY WHEN EXCEPTIONAL CIR-
CUMSTANCES EXIST.— 
‘‘(1) IN GENERAL.—The head of a covered fi-
nancial services agency may only grant a waiver of 
the prohibition under subsection (a) if the head de-
termines that exceptional circumstances exist. 
‘‘(2) REVIEW
AND
PUBLICATION.—For any 
waiver granted under paragraph (1), the Director 
shall— 
‘‘(A) review the circumstances relating to 
the waiver and the determination that excep-
tional circumstances exist; and 
‘‘(B) make the waiver publicly available on 
the Web site of the Office of Government Eth-
ics, which shall include— 
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‘‘(i) the name of the private person or 
persons involved in the negotiations or ar-
rangement concerning prospective employ-
ment; and 
‘‘(ii) the date on which the negotia-
tions or arrangements commenced. 
‘‘(d) SCOPE.—For purposes of this section, the term 
‘negotiations of future employment’ is not limited to dis-
cussions of specific terms or conditions of employment in 
a specific position. 
‘‘SEC. 604. RECORDKEEPING. 
‘‘The Director shall— 
‘‘(1) receive all employment histories, recusal 
and waiver records, and other disclosure records for 
covered executive branch officials necessary for mon-
itoring compliance with this title; 
‘‘(2) promulgate rules and regulations, in con-
sultation with the Director of the Office of Per-
sonnel Management and the Attorney General, to 
implement this title; 
‘‘(3) provide guidance and assistance where ap-
propriate to facilitate compliance with this title; 
‘‘(4) review and, where necessary, assist des-
ignated agency ethics officials in providing advice to 
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covered financial services regulators regarding com-
pliance with this title; and 
‘‘(5) if the Director determines that a violation 
of this title may have occurred, and in consultation 
with the designated agency ethics official and the 
Counsel to the President, refer the compliance case 
to the United States Attorney for the District of Co-
lumbia for enforcement action. 
‘‘SEC. 605. PENALTIES AND INJUNCTIONS. 
‘‘(a) CRIMINAL PENALTIES.— 
‘‘(1) IN
GENERAL.—Any person who violates 
section 602 or 603 shall be fined under title 18, 
United States Code, imprisoned for not more than 
1 year, or both. 
‘‘(2) WILLFUL VIOLATIONS.—Any person who 
willfully violates section 602 or 603 shall be fined 
under title 18, United States Code, imprisoned for 
not more than 5 years, or both. 
‘‘(b) CIVIL ENFORCEMENT.— 
‘‘(1) IN GENERAL.—The Attorney General may 
bring a civil action in an appropriate district court 
of the United States against any person who vio-
lates, or whom the Attorney General has reason to 
believe is engaging in conduct that violates, section 
602 or 603. 
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‘‘(2) CIVIL PENALTY.— 
‘‘(A) IN GENERAL.—Upon proof by a pre-
ponderance of the evidence that a person vio-
lated section 602 or 603, the court shall impose 
a civil penalty of not more than the greater 
of— 
‘‘(i) $100,000 for each violation; or 
‘‘(ii) the amount of compensation the 
person received or was offered for the con-
duct constituting the violation. 
‘‘(B) RULE
OF
CONSTRUCTION.—A civil 
penalty under this subsection shall be in addi-
tion to any other criminal or civil statutory, 
common law, or administrative remedy available 
to the United States or any other person. 
‘‘(3) INJUNCTIVE RELIEF.— 
‘‘(A) IN
GENERAL.—In a civil action 
brought under paragraph (1) against a person, 
the Attorney General may petition the court for 
an order prohibiting the person from engaging 
in conduct that violates section 602 or 603. 
‘‘(B) STANDARD.—The court may issue an 
order under subparagraph (A) if the court finds 
by a preponderance of the evidence that the 
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conduct of the person violates section 602 or 
603. 
‘‘(C) RULE OF CONSTRUCTION.—The filing 
of a petition seeking injunctive relief under this 
paragraph shall not preclude any other remedy 
that is available by law to the United States or 
any other person.’’. 
SEC. 4. PROHIBITION OF PROCUREMENT OFFICERS AC-
CEPTING EMPLOYMENT FROM GOVERNMENT 
CONTRACTORS. 
(a) EXPANSION OF PROHIBITION ON ACCEPTANCE 
BY FORMER OFFICIALS OF COMPENSATION FROM CON-
TRACTORS.—Section 2104 of title 41, United States Code, 
is amended— 
(1) in subsection (a)— 
(A) in the matter preceding paragraph 
(1)— 
(i) by striking ‘‘or consultant’’ and in-
serting ‘‘consultant, lawyer, or lobbyist’’; 
and 
(ii) by striking ‘‘one year’’ and insert-
ing ‘‘2 years’’; and 
(B) in paragraph (3), by striking ‘‘person-
ally made for the Federal agency’’ and inserting 
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‘‘participated personally and substantially in’’; 
and 
(2) by striking subsection (b) and inserting the 
following: 
‘‘(b) PROHIBITION ON COMPENSATION FROM AFFILI-
ATES AND SUBCONTRACTORS.—A former official respon-
sible for a Government contract referred to in paragraph 
(1), (2), or (3) of subsection (a) may not accept compensa-
tion for 2 years after awarding the contract from any divi-
sion, affiliate, or subcontractor of the contractor.’’. 
(b) REQUIREMENT
FOR PROCUREMENT OFFICERS 
TO DISCLOSE JOB OFFERS MADE ON BEHALF OF REL-
ATIVES.—Section 2103(a) of title 41, United States Code, 
is amended in the matter preceding paragraph (1) by in-
serting after ‘‘that official’’ the following: ‘‘, or for a rel-
ative (as defined in section 3110 of title 5) of that offi-
cial,’’. 
(c) REQUIREMENT
ON AWARD
OF GOVERNMENT 
CONTRACTS TO FORMER EMPLOYERS.— 
(1) IN
GENERAL.—Chapter 21 of title 41, 
United States Code, is amended by adding at the 
end the following: 
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‘‘§ 2108. 
Prohibition 
on 
involvement 
by 
certain 
former contractor employees in procure-
ments 
‘‘An employee of the Federal Government may not 
be personally and substantially involved with any award 
of a contract to, or the administration of a contract award-
ed to, a contractor that is a former employer of the em-
ployee during the 2-year period beginning on the date on 
which the employee leaves the employment of the con-
tractor.’’. 
(2) TECHNICAL
AND
CONFORMING
AMEND-
MENT.—The table of sections for chapter 21 of title 
41, United States Code, is amended by adding at 
the end the following: 
‘‘2108. Prohibition on involvement by certain former contractor employees in 
procurements.’’. 
(d) REGULATIONS.—The Administrator for Federal 
Procurement Policy and the Director of the Office of Man-
agement and Budget shall— 
(1) in consultation with the Director of the Of-
fice of Personnel Management and the Counsel to 
the President, promulgate regulations to carry out 
and ensure the enforcement of chapter 21 of title 
41, United States Code, as amended by this section; 
and 
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(2) in consultation with designated agency eth-
ics officials (as defined under section 601 of the 
Ethics in Government Act of 1978 (5 U.S.C. App.), 
as added by section 3), monitor compliance with that 
chapter by individuals and agencies. 
SEC. 5. REVOLVING DOOR RESTRICTIONS ON FINANCIAL 
SERVICES REGULATORS MOVING INTO THE 
PRIVATE SECTOR. 
(a) IN GENERAL.—Section 207 of title 18, United 
States Code, is amended— 
(1) by redesignating subsections (e) through (l) 
as subsections (f) through (m), respectively; and 
(2) by inserting after subsection (d) the fol-
lowing: 
‘‘(e) RESTRICTIONS ON EMPLOYMENT FOR FINAN-
CIAL SERVICES REGULATORS.— 
‘‘(1) IN GENERAL.—In addition to the restric-
tions set forth in subsections (a), (b), (c), and (d), 
a covered financial services regulator shall not— 
‘‘(A) during the 2-year period beginning on 
the date on which his or her employment as a 
covered financial services regulator ceases— 
‘‘(i) knowingly act as agent or attor-
ney for, or otherwise represent, any other 
person 
for 
compensation 
(except 
the 
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United States) in any formal or informal 
appearance before; 
‘‘(ii) with the intent to influence, 
make any oral or written communication 
on behalf of any other person (except the 
United States) to; or 
‘‘(iii) knowingly aid, advise, or assist 
in— 
‘‘(I) representing any other per-
son (except the United States) in any 
formal or informal appearance before; 
or 
‘‘(II) making, with the intent to 
influence, any oral or written commu-
nication on behalf of any other person 
(except the United States) to, 
any court of the United States, or any officer 
or employee thereof, in connection with any ju-
dicial or other proceeding, that was actually 
pending under his or her official responsibility 
as a covered financial services regulator during 
the 1-year period ending on the date on which 
his or her employment as a covered financial 
services regulator ceases or in which he or she 
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tivities on behalf of any other person 
(except the United States) to, 
any department or agency of the executive 
branch or Congress (including any committee of 
Congress), or any officer or employee thereof, 
in connection with any matter that is pending 
before the department, the agency, or Congress. 
‘‘(2) PENALTY.—Any person who violates para-
graph (1) shall be punished as provided in section 
216. 
‘‘(3) DEFINITIONS.—In this subsection— 
‘‘(A) the term ‘covered financial services 
regulator’ has the meaning given that term in 
section 601 of the Ethics in Government Act of 
1978 (5 U.S.C. App.); and 
‘‘(B) the terms ‘lobbying activities’ and 
‘lobbyist’ have the meanings given those terms 
in section 3 of the Lobbying Disclosure Act of 
1995 (2 U.S.C. 1602).’’. 
(b) TECHNICAL AND CONFORMING AMENDMENTS.— 
(1) Section 103(a) of the Honest Leadership 
and Open Government Act of 2007 (2 U.S.C. 
4702(a)) is amended by striking ‘‘section 207(e)’’ 
each place it appears and inserting ‘‘section 207(f)’’. 
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(2) Section 207 of title 18, United States Code, 
as amended by subsection (a), is amended— 
(A) in subsection (g), as so redesignated, 
by striking ‘‘or (e)’’ and inserting ‘‘or (f)’’; 
(B) in subsection (j)(1)(B), as so redesig-
nated, by striking ‘‘subsection (f)’’ and insert-
ing ‘‘subsection (g)’’; and 
(C) in subsection (k), as so redesignated— 
(i) in paragraph (1)(B), by striking 
‘‘(25 U.S.C. 450i(j))’’ and inserting ‘‘(25 
U.S.C. 5323(j))’’; 
(ii) in paragraph (2), in the matter 
preceding subparagraph (A), by striking 
‘‘and (e)’’ and inserting ‘‘(e), and (f)’’; 
(iii) in paragraph (4), by striking 
‘‘and (e)’’ and inserting ‘‘(e), and (f)’’; and 
(iv) in paragraph (7)— 
(I) in subparagraph (A), by strik-
ing ‘‘and (e)’’ and inserting ‘‘(e), and 
(f)’’; and 
(II) in subparagraph (B)(ii), in 
the matter preceding subclause (I), by 
striking ‘‘subsections (c), (d), or (e)’’ 
and inserting ‘‘subsection (c), (d), (e), 
or (f)’’. 
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(3) Section 141(b)(4) of the Trade Act of 1974 
(19 U.S.C. 2171(b)(4)) is amended by striking ‘‘sec-
tion 207(f)(3)’’ and inserting ‘‘207(g)(3)’’. 
(4) Section 7802(b)(3)(B) of the Internal Rev-
enue Code of 1986 is amended by striking ‘‘and (f) 
of section 207’’ and inserting ‘‘and (g) of section 
207’’. 
(5) Section 3105(c) of the USEC Privatization 
Act (42 U.S.C. 2297h–3(c)) is amended by striking 
‘‘and (d)’’ and inserting ‘‘and (e)’’. 
(6) Section 106(p)(6)(I)(ii) of title 49, United 
States Code, is amended by striking ‘‘and (f) of sec-
tion 207’’ and inserting ‘‘and (g) of section 207’’. 
SEC. 6. RESTRICTIONS ON FEDERAL EXAMINERS AND SU-
PERVISORS OF FINANCIAL INSTITUTIONS. 
(a) IN GENERAL.—Section 10(k) of the Federal De-
posit Insurance Act (12 U.S.C. 1820(k)) is amended— 
(1) in the subsection heading— 
(A) by striking ‘‘ONE-YEAR’’ and inserting 
‘‘TWO-YEAR’’; and 
(B) by striking ‘‘EXAMINERS’’ and insert-
ing ‘‘EXAMINERS AND SUPERVISORS’’; 
(2) in paragraph (1)— 
(A) by striking subparagraph (B) and in-
serting the following: 
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‘‘(B) served— 
‘‘(i) not less than 2 months during the 
final 12 months of the employment of the 
person with that agency or entity as the 
senior examiner (or a functionally equiva-
lent position) of a depository institution or 
depository institution holding company 
with continuing, broad responsibility for 
the examination (or inspection) of that de-
pository institution or depository institu-
tion holding company on behalf of the rel-
evant agency or Federal reserve bank; or 
‘‘(ii) as a supervisor of the senior ex-
aminer with responsibility for managing 
the oversight of not more than 5 deposi-
tory institutions or depository institution 
holding companies on behalf of the rel-
evant agency or Federal reserve bank; 
and’’; and 
(B) in subparagraph (C)— 
(i) in the matter preceding clause (i), 
by striking ‘‘1 year’’ and inserting ‘‘2 
years’’; 
(ii) in clause (i)— 
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(I) by striking ‘‘other company’’ 
and inserting ‘‘other company, firm, 
or association’’; and 
(II) by striking ‘‘or’’ at the end; 
(iii) in clause (ii), by striking the pe-
riod at the end and inserting ‘‘; or’’; and 
(iv) by adding at the end the fol-
lowing: 
‘‘(iii) a business entity, firm, or asso-
ciation that represents the depository insti-
tution or depository institution holding 
company for compensation.’’; 
(3) by redesignating paragraphs (2) through 
(6) as paragraphs (3) through (7), respectively; 
(4) by inserting after paragraph (1) the fol-
lowing: 
‘‘(2) APPLICATION OF PENALTIES FOR SUPER-
VISORS.—A supervisor of a covered financial services 
regulator, or a supervisor of a senior examiner de-
scribed in paragraph (1)(B)(i), shall be subject to 
the penalties described in paragraph (7) if the su-
pervisor knowingly accepts compensation during the 
2-year period beginning on the date on which the 
service of the supervisor is terminated— 
‘‘(A) as— 
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‘‘(i) an employee; 
‘‘(ii) an officer; 
‘‘(iii) a director; or 
‘‘(iv) a consultant; and 
‘‘(B) from— 
‘‘(i) a depository institution; 
‘‘(ii) a depository institution holding 
company that is designated by the Finan-
cial Stability Oversight Council as a sys-
temically important financial market utility 
under section 804 of the Payment, Clear-
ing, and Settlement Supervision Act of 
2010 (12 U.S.C. 5463); or 
‘‘(iii) a business entity, firm, or asso-
ciation that represents an institution de-
scribed in clause (ii) for compensation.’’; 
(5) in paragraph (3), as so redesignated— 
(A) by redesignating subparagraphs (A) 
and (B) as subparagraphs (B) and (C), respec-
tively; and 
(B) by inserting before subparagraph (B), 
as so redesignated, the following: 
‘‘(A) the term ‘covered financial services 
regulator’ has the meaning given the term in 
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section 601 of the Ethics in Government Act of 
1978 (5 U.S.C. App.);’’; 
(6) in paragraph (4), as so redesignated, by 
striking ‘‘or other company’’ each place it appears 
and inserting ‘‘or other company, firm, or associa-
tion’’; and 
(7) in paragraph (7), as so redesignated— 
(A) in subparagraph (A)— 
(i) in the matter preceding clause (i), 
by striking ‘‘other company’’ and inserting 
‘‘other company, firm, or association’’; and 
(ii) in clause (i)(I), by striking ‘‘other 
company’’ and inserting ‘‘other company, 
firm, or association’’; and 
(B) in subparagraph (C), by striking ‘‘a 
company’’ and inserting ‘‘a company, firm, or 
association’’. 
(b) TECHNICAL AND CONFORMING AMENDMENTS.— 
Section 10(k) of the Federal Deposit Insurance Act (12 
U.S.C. 1820(k)) is amended— 
(1) in paragraph (1), in the matter preceding 
subparagraph (A), by striking ‘‘paragraph (6)’’ and 
inserting ‘‘paragraph (7)’’; 
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(2) in paragraph (5)(A), as so redesignated, by 
striking ‘‘paragraph (1)(B)’’ and inserting ‘‘para-
graphs (1)(B) and (2)’’; and 
(3) in paragraph (7), as so redesignated— 
(A) in subparagraph (A)— 
(i) by striking ‘‘subject to paragraph 
(1)’’ and inserting ‘‘subject to paragraph 
(1) or (2)’’; and 
(ii) by striking ‘‘paragraph (1)(C)’’ 
and inserting ‘‘paragraph (1)(C) or (2)’’; 
and 
(B) in subparagraph (C)— 
(i) by striking ‘‘person described in 
paragraph (1)’’ and inserting ‘‘person de-
scribed in paragraph (1) or (2)’’; and 
(ii) by striking ‘‘the functions de-
scribed in paragraph (1)(B)’’ and inserting 
‘‘the functions or duties described in para-
graph (1)(B) or (2)’’. 
SEC. 7. SEVERABILITY. 
If any provision of this Act or any amendment made 
by this Act, or any application of such provision or amend-
ment to any person or circumstance, is held to be uncon-
stitutional, the remainder of the provisions of this Act and 
the amendments made by this Act and the application of 
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the provision or amendment to any other person or cir-
cumstance shall not be affected. 
Æ 
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