Financial Services Conflict of Interest Act

Financial Services Conflict of Interest Act

This bill amends the Ethics in Government Act of 1978 and other laws to:

• expand restrictions on federal government employees' acceptance of compensation from nongovernment sources,
• generally require certain financial-services regulators to recuse themselves from any official action that would provide a direct and substantial pecuniary benefit for a recent former employer or client,
• generally prohibit such a regulator from participating in matters that involve an individual or entity with whom the regulator is negotiating future employment,
• prohibit a federal government employee from participating in a procurement involving a contractor that had recently employed that employee, and
• expand restrictions on lobbying by certain former financial-services regulators.