A bill to ban stock trading for certain senior Government officials, and for other purposes.

The No Stock Act would bar stock trading by a defined set of “covered individuals” in order to prevent conflicts of interest in senior government service. It adds a new Subchapter IV ("Banning Conflicted Interests") to Title 5, U.S.C. Chapter 131. The bill broadly prohibits holding, buying, selling, or otherwise transacting in “covered financial interests” (including securities, futures, commodities, and certain digital assets) by those named as covered individuals (President, Vice President, Members of Congress, Chief Justice and Associate Justices, members of the Federal Reserve Board, and the President/VP of a Federal Reserve bank, plus their spouses or dependent children). It also requires divestiture of these interests within set timeframes, imposes cooling-off rules, mandates a certificate of compliance, and provides for enforcement penalties. The measure would also apply to interests held in trusts and would publicize certain administrative decisions. The bill includes a number of conforming amendments to other laws (e.g., the STOCK Act and related ethics and tax provisions). In short, it aims to completely prohibit stock trading for the most senior U.S. government officials and certain related individuals, with a formal divestment process, enforcement penalties, and transparency requirements.