Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act

This bill would stop Members of Congress and their spouses from holding, buying, or selling certain financial investments while the Member is in office. Current and new Members get up to 180 days to sell any restricted investments after the law takes effect or after starting their first term. If a Member breaks the rules, they must give up any profit from the trade and can be fined. Each Member must certify every year that they follow the law, and those certifications must be posted online. Ethics committees can set rules, give reasonable extensions for those trying in good faith to sell, and issue fines. Details about fines and the results must be posted online.

If a Member keeps ignoring the rules after a notice, fines repeat at least every 30 days and equal 10% of the value that wasn’t sold. A Member can appeal a fine to a vote of their chamber. Two years after the law starts, the Government Accountability Office must audit compliance and report back.

• Who is affected: Members of Congress and their spouses.
• What changes: No holding, buying, or selling certain investments while in office; profits from illegal trades must be returned; civil fines can be imposed; annual compliance statements are published online.
• Enforcement: Ethics committees can grant extensions, issue guidance, and publish fines and outcomes; repeat fines of 10% can apply until the Member complies; appeals go to a chamber vote.
• When: 180-day sell-off window for current and new Members; federal audit due within 2 years of enactment.