Member Financial Transparency Act

Bill: 115-hr-5458
Sponsor: full_name: Rep. Grothman, Glenn [R-WI-6]
Introduced: 2018-04-10
Policy area: Congress
Subjects: Congressional oversight

Financial services and investments

Government ethics and transparency, public corruption

Government information and archives

Members of Congress

Securities
Latest action: action_date: 2018-04-10
text: Referred to the House Committee on House Administration.

Summaries:
action_date: 2018-04-10
action_desc: Introduced in House
text: <p><b>Member Financial Transparency Act</b></p> <p>This bill amends the Ethics in Government Act of 1978 to require Members of Congress to file reports on transactions in securities within 7 days after such transaction and the Clerk of the House of Representatives and the Secretary of the Senate to make such reports public within 10 days.</p>

tv_txt: I 115th CONGRESS 2d Session H. R. 5458 IN THE HOUSE OF REPRESENTATIVES April 10, 2018 Mr. Grothman introduced the following bill; which was referred to the Committee on House Administration A BILL To amend the Ethics in Government Act of 1978 to require Members of Congress to file the reports on transactions in stocks, bonds, commodities futures, and other forms of securities which are required under such Act not later than 7 days after the transactions are completed, and for other purposes.

1. Short title This Act may be cited as the Member Financial Transparency Act . 2. 7-day deadline for Members of Congress to file reports on transactions in securities (a) Modification of deadline for Members To file reports Section 103(l) of the Ethics in Government Act of 1978 ( 5 U.S.C. App. 103(l) ) is amended by striking in no case later than 45 days after such transaction and inserting in no case later than 45 days after such transaction (or, in the case of a Member of Congress, in no case later than 7 days after such transaction) . (b) Modification of deadline for Clerk of the House and Secretary of the Senate To make reports public Section 105(b)(1) of such Act ( 5 U.S.C. App. 105(b)(1) ) is amended by striking within thirty days and inserting within 30 days (or, in the case of a report of a transaction required to be reported under section 102(a)(5)(B) which is filed by a Member of Congress, within 10 days) . (c) Effective date The amendments made by this section shall apply with respect to transactions occurring on or after the date of the enactment of this Act.