To amend title 5, United States Code, to restrict trading and ownership of certain financial instruments by Members of Congress and their spouses and dependents, and for other purposes.

Referred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Bill 119 HR 253 aims to make changes to title 5 of the United States Code in order to limit the ability of Members of Congress and their spouses and dependents to trade and own certain financial instruments. The bill seeks to prevent conflicts of interest and insider trading by imposing restrictions on the trading activities of these individuals.

Specifically, the bill would prohibit Members of Congress and their immediate family members from owning or trading certain financial instruments, such as stocks, bonds, and other securities, based on nonpublic information obtained through their official duties. This is intended to ensure that lawmakers do not use their positions for personal financial gain at the expense of the public.

In addition to these restrictions, the bill also includes provisions for increased transparency and reporting requirements for Members of Congress and their families regarding their financial transactions. This is meant to provide greater accountability and oversight of their financial activities. Overall, Bill 119 HR 253 seeks to promote ethical behavior and integrity among Members of Congress by limiting their ability to engage in potentially unethical or illegal trading practices. By imposing these restrictions and increasing transparency, the bill aims to uphold the public trust and confidence in the legislative branch of government.