Federal Conflict of Interest Act

[AI summary unavailable — showing source text] Federal Conflict of Interest Act - Imposes a civil penalty equal to the amount of any profit gained by an officer or employee of the Federal Government for engaging in personal business transactions based upon his or her official position or authority. Makes it unlawful for any such person to knowingly violate any standard of ethical conduct promulgated by the Commission on Conduct (established by this Act). Requires persons in the employ of the Federal Government compensated in excess of $25,000 per year to make an annual financial disclosure, including elected officials. Authorizes the Commission to investigate any alleged violation of any provision of this Act or regulation promulgated under it. Specifies the procedures to be followed by the Commission upon finding that an individual has violated the standards of ethical conduct of the Commission or any requirement of this Act. Authorizes to be appropriated for each fiscal year such sums as may be necessary to carry out the provisions of this Act.…