Sponsors (2)
Requires security clearances and annual OGE financial disclosures for certain non‑federal individuals acting for the U.S., bans certain foreign government financial deals, and authorizes enforcement and penalties.
Official title: To require a background investigation and certain disclosures from covered persons representing the Federal Government before a foreign sovereign, and for other purposes.
Introduced September 3, 2026 by Suhas Subramanyam · Last progress September 3, 2026
The bill strengthens national security and transparency for taxpayers by expanding vetting and public disclosures, but it increases privacy risks and compliance costs for many non‑federal contractors, relatives, and small businesses, potentially chilling private‑sector engagement with government work.
Government contractors and non‑federal personnel with access to classified or sensitive programs will face enhanced security vetting and stronger enforcement (including OGE authority to bar violators), reducing the risk of foreign influence and preventing recidivist or high‑risk individuals from holding sensitive roles.
Taxpayers and the public will get greater transparency because annual financial filings and quarterly reports about outside ties to foreign governments will be publicly disclosed.
Small businesses, private contractors, and other non‑federal actors could be swept in by broad definitions of 'covered individual'/'covered person', increasing compliance costs and potentially discouraging private‑sector engagement with the government.
Government contractors and other non‑federal covered individuals (and their families) will face new compliance burdens, including annual federal financial disclosure filings, adding time and administrative costs.
Covered individuals and their relatives will have detailed financial disclosures made public, exposing personal and family financial information and raising privacy and safety concerns.
Based on analysis of 2 sections of legislative text.
Requires non‑federal individuals who act for or on behalf of the federal government in foreign‑facing roles to hold a security clearance before performing certain activities, file annual financial disclosure reports with the Office of Government Ethics (OGE), and bars them from negotiating or accepting foreign government financial agreements that directly benefit them. Gives OGE reporting and enforcement authority, allows penalties including disqualification, civil referral, and criminal sanctions for knowing violations.