One ethics watchdog says the bill presents just as many ethical concerns as it addresses.
that attempts to address insider trading concerns in Washington. Introduced Tuesday night, the Combatting Financial Conflicts of Interest in Government Act, parts of which have been met with heavy scrutiny, would prohibit certain federal officials and their immediate families from owning or trading stocks in individual companies, and investments in securities, commodities, futures, and cryptocurrencies.
By including the spouses and dependents of federal officials in its ban, the bill addresses one of the key methods lawmakers may employ to dodge conflict of interest accusations. Still, the requirement that officials enter their assets into a blind trust could create new ethics concerns and potentially eliminate current transparency initiatives, according to“In reaction to the Watergate scandal that toppled the Nixon presidency, Congress passed the Ethics in Government Act.
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