Transparency in Government Officials Trading Act
This bill advances the deadline for certain public employees and officials who must file a report of a securities transaction from 30 days after receiving notification of the transaction to within 24 hours after conducting the transaction. The bill requires that these reports be filed electronically. The bill also sets a penalty for failing to file a timely report—a fee in the amount of the transaction for which a report was not timely filed.
Under existing law, the securities transaction reporting requirement applies to the President, Vice President, Members of Congress, and certain executive and legislative branch officers and employees.