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Search Tags: financial disclosure
Congress approved a bill Friday to eliminate expanded financial-disclosure reporting requirements for Senior Executive Service members, just days before the new requirements were to go into effect. Both the House and Senate approved the measure by unanimous consent. The expanded reporting requirements were set to go into effect Monday.
A new report says a law requiring the online posting of senior federal executives' financial information would likely impinge on employees' privacy and wouldn't do much to deter conflicts of interest. The National Academy of Public Administration was tasked by Congress with studying the STOCK Act — short for "Stop Trading on Congressional Knowledge" — in response to concerns about privacy and identify theft.
A district court judge has put a hold on the section of the STOCK Act that requires 28,000 federal executives to publish their financial information online.
President Barack Obama has signed a law delaying an expansion of the STOCK Act that would have published the financial records of thousands of top managers throughout the executive and legislative branches in an online, searchable database.
Congress has delayed the online financial disclosure requirement of the STOCK Act for a month. But already this provision that affects 28,000 senior members of the executive branch is deterring high-level feds from joining the ranks of senior executives, according to the Senior Executives Association.
A memo by a government watchdog group finds the General Services Administration's ethics program received high marks in a November 2010 study from the Office of Government Ethics. The report was issued shortly after GSA threw the lavish Las Vegas conference that has led to the firings of top officials and the resignation of Administrator Martha Johnson and a slew of congressional hearings.
Why is it that because so many members of Congress have managed to become millionaires, top career federal executives must play show and tell, baring their most intimate financial details to the world, Senior Correspondent Mike Causey wonders. And could you be next?
President Barack Obama signed legislation Wednesday prohibiting members of Congress, the President and thousands of federal workers from engaging in insider trading. Under the law, lawmakers and government employees will be required to report certain financial transactions within 45 days of the initial trade. Those reports — which now are typically only available upon request — will be made available on agency websites and, eventually, on searchable databases.