Office of Ethics
United States Department of Agriculture

THE STOCK ACT

On April 4, 2012, the President signed the Stop Trading on Congressional Knowledge Act or STOCK Act (S. 2038), which amended the Ethics in Government Act of 1978 (5 U.S.C. App. § 101 et seq.) and contains additional requirements for employees who file the OGE 278 Public Financial Disclosure Report. The chart below outlines key provisions of the Act.

Section

Subject

17

Public financial disclosure report filers must file a statement with the Office of Ethics advising of negotiations or agreement for future employment or compensation within three (3) business days after commencement of the negotiation or agreement and recuse immediately if there is a conflict or appearance of a conflict.

13

Senate-confirmed Presidential appointees (PAS) must report mortgages on their personal residences on Schedule C, Part I of the OGE 278.

12

OGE 278 filers may not purchase securities at initial public offerings in ways not available to the general public.

6

OGE-278 filers must report transactions over $1,000 involving stocks, bonds, and commodities (not diversified mutual funds that qualify as EIFs) on the OGE 278-T within 30 days of notification or 45 days of the transaction.

 

References on the STOCK Act