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

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3388 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3388 To amend chapter 131 of title 5, United States Code, to prohibit transactions involving certain financial instruments by Members of Congress. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 14, 2025 Mr. Alford introduced the following bill; which was referred to the Committee on House Administration _______________________________________________________________________ A BILL To amend chapter 131 of title 5, United States Code, to prohibit transactions involving certain financial instruments by Members of Congress. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act''. SEC. 2. BANNING INSIDER TRADING IN CONGRESS. (a) In General.--Chapter 131 of title 5, United States Code, is amended by adding at the end the following: ``Subchapter IV--Banning Insider Trading in Congress ``Sec. 13161. Definitions ``In this subchapter: ``(1) Covered financial instrument.-- ``(A) In general.--The term `covered financial instrument' means-- ``(i) any investment in-- ``(I) a security (as defined in section 3(a) of Securities Exchange Act of 1934 (15 U.S.C. 78c(a))); ``(II) a security future (as defined in that section); or ``(III) a commodity (as defined in section 1a of the Commodity Exchange Act (7 U.S.C. 1a)); and ``(ii) any economic interest comparable to an interest described in clause (i) that is acquired through synthetic means, such as the use of a derivative, including an option, a warrant, or other similar means. ``(B) Exclusions.--The term `covered financial instrument' does not include-- ``(i) a diversified mutual fund; ``(ii) a diversified exchange-traded fund; ``