Ban Congressional Stock Trading Act

The Ban Congressional Stock Trading Act (S 1879) requires current and new Members of Congress, along with their spouses and dependent children, to divest or place certain investments in qualified blind trusts. It defines "covered investments" broadly to include stocks, bonds, commodities, and derivatives, while excluding diversified mutual funds, Treasury securities, and retirement plan investments. Members must complete this process within 120 days of enacting the law (with possible 180-day extensions), and new members have 120 days after taking office to comply. The law mandates public reporting of assets placed in blind trusts and imposes civil penalties for non-compliance, equal to a monthly portion of the member's salary. This legislation directly affects congressional staff members and their immediate families who hold financial interests that could create conflicts of interest.