To amend section 207 of title 18, United States Code, to prohibit certain former Federal officials from investing in or serving in a managerial role in an investment fund in which a foreign principal owns shares within a certain time period if such investment or managerial role is based on conversations between such former officials and such foreign principal while such former official was employed by the Federal Government, and for other purposes.

Bill 118 hr 10470 aims to amend section 207 of title 18, United States Code, in order to prevent certain former Federal officials from investing in or holding a managerial position in an investment fund where a foreign principal owns shares. This prohibition would apply if the investment or managerial role is established through discussions between the former official and the foreign principal while the former official was working for the Federal Government. The bill also includes other provisions related to this issue.

In essence, this bill seeks to address potential conflicts of interest that may arise when former Federal officials use their previous government connections to benefit foreign entities in their private investments. By restricting these individuals from engaging in such activities, the bill aims to uphold ethical standards and prevent any undue influence from foreign entities on former government officials.

Overall, Bill 118 hr 10470 aims to promote transparency and integrity in the financial dealings of former Federal officials, particularly in relation to foreign investments.