STOCK Act
On April 4, 2012, the President signed the Stop Trading on Congressional Knowledge Act or STOCK Act (S. 2038), which amended the Ethics in Government Act of 1978 (5 U.S.C. App. § 101 et seq.) and contains additional requirements for employees who file the OGE 278 Public Financial Disclosure Report. The chart below outlines key provisions of the Act.
|
Section |
Subject |
|---|---|
|
17 |
Public financial disclosure report filers must file a statement with the Office of Ethics advising of negotiations or agreement for future employment or compensation within three (3) business days after commencement of the negotiation or agreement and recuse immediately if there is a conflict or appearance of a conflict. |
|
13 |
Senate-confirmed Presidential appointees (PAS) must report mortgages on their personal residences on Schedule C, Part I of the OGE 278. |
|
12 |
OGE 278 filers may not purchase securities at initial public offerings in ways not available to the general public. |
|
6 |
OGE-278 filers must report transactions over $1,000 involving stocks, bonds, and commodities (not diversified mutual funds that qualify as EIFs) on the OGE 278-T within 30 days of notification or 45 days of the transaction. |
References on the STOCK Act
- LA-13-01: Periodic Reporting of Transactions by Spouses and Dependent Children
(From the Office of Government Ethics) - LA-12-04: Public Financial Disclosure: Periodic Transaction Reports
(From the Office of Government Ethics) - LA-12-02: Mortgage Reporting Requirement under the STOCK Act
(From the Office of Government Ethics) - LA-12-01: Post-Employment Negotiation and Recusal Requirements under the STOCK Act
(From the Office of Government Ethics) - Text of the STOCK Act (PDF, 158 KB)
- Important Preliminary Guidance on the STOCK Act for USDA Public Financial Disclosure Filers
(From Director, USDA Office of Ethics, Updated April 18, 2012) - Reminder on the STOCK Act for USDA Public Financial Disclosure Filers
(Filers should delete unnecessary personal information from financial disclosure forms. From Director, USDA Office of Ethics, Updated April 25, 2012) - Notification to the Agency Ethics Office about Post-Employment Negotiation
USDA public financial disclosure filers must file this form with the Office of Ethics (Updated May, 2014) - Ethics Advisory: Periodic Transaction Public Disclosure Reports
(From Director, USDA Office of Ethics, Updated June 29, 2012) - Summary of STOCK Act Reporting Requirements (PDF, 166 KB)
