Summary

Creates new criminal and administrative penalties for high-level federal officials (and certain family members/associates) who issue, sponsor, or promote financial assets tied to their office when that conduct produces major financial harm, private gain, bribery, or insider trading. The measure also declares as a matter of congressional sense that elected officials should not use public office for private financial benefit. Defines covered people and transactions, removes immunity defenses for the prohibited conduct, and authorizes fines, imprisonment (up to 15 years), and possible disqualification from holding federal office; it also inserts the new provisions into Titles 5 and 18 of the U.S. Code for enforcement and clarity.

• Creates criminal liability for high-level federal officials (and certain family/associates) who issue, sponsor, or promote financial assets tied to their office.
• Defines covered actors and transactions, including family members and 'adjacent' individuals, to broaden reach beyond the official alone.
• Liability is triggered when conduct causes $1,000,000+ aggregate losses or results in private financial benefit, bribery, or insider trading.
• Penalties include fines, up to 15 years imprisonment, and possible disqualification from holding federal office.
• Prohibited conduct is treated as outside official duties, limiting use of immunity or scope-of-office defenses.
• Includes a nonbinding Sense of Congress that public office should not be used for private financial gain.
• Adds the new prohibitions and penalties into Titles 5 and 18 of the U.S. Code and updates statutory tables.
• Targets promotion/creation of financial instruments by officials — not routine private investments by the public — though definitions will determine precise scope.
• Raises enforcement and litigation implications for DOJ, ethics offices, courts, and financial counterparties dealing with covered assets.