The Public Service Accountability Act

The Public Service Accountability Act restricts Members of Congress, the President, Vice President, and various federal officials from owning or trading specific financial investments, including commodities and derivatives. To comply, these individuals must divest existing holdings within 180 days of the law's enactment or 90 days after becoming covered officials, while also excluding certain assets like widely held funds, government bonds, and small business interests. The bill establishes penalties for violations, including fines equal to 10% of the investment value and the disgorgement of profits, which cannot be paid using campaign funds or official allowances. Additionally, the law requires ethics offices to issue certificates of divestiture and publish details of any fines assessed on their public websites.