Greetings john007-
The laws governing the ethical conduct of Government employees are
contained in a variety of statutes. The two major sources of ethics
laws are Title 18 of the United States Code and the Ethics in
Government Act of 1978.
The Ethics in Government Act of 1978, requires
"certain senior officers and employees of the executive branch... to
file a public report (SF 278) disclosing their financial interests as
well as the interests of their spouse and minor children.
Reference: Section 102(f), Ethics in Government Act of 1978; 5 C.F.R.
part 2634
While, technically, no member of the executive branch is required to
use a blind trust to resolve conflicts of interest, it is often used
as the most expedient remedy.
"There is no requirement that a person utilize a blind trust as a
means of resolving potential conflicts of interest. Generally, a blind
trust will be appropriate where the holdings are of such an array and
magnitude that creation of a qualified trust would be the most
practical means of avoiding conflicts."
http://rf-web.tamu.edu/security/SECGUIDE/Ethics/Finances.htm
The Office of Government Ethics oversees the administration of the
public and confidential financial disclosure systems for the executive
branch. It also administers the blind trust and certificate of
divestiture programs in the executive branch.
The Ethics in Government Act defines those who are subject to
financial disclosure requirements. You can read the entire act at
http://www.house.gov/ethics/ETHICS_IN_GOVERNMENT_ACT_LINK_PAGE.htm
or, here, with hotlinks to major sections:
http://www.afmc.wpafb.af.mil/HQ-AFMC/JA/lo/lojaf/ethics/statutes/ethicsgovt.htm
Ther pertinent section defining who must disclose follows:
The officers and employees referred to in subsections (a), (d), and
(e) are -
(1) the President;
(2) the Vice President;
(3) each officer or employee in the executive branch, including a
special Government employee as defined in section 202 of title 18,
United States Code, who occupies a position classified above GS-15 of
the General Schedule or, in the case of positions not under the
General Schedule, for which the rate of basic pay is equal to or
greater than 120 percent of the minimum rate of basic pay payable for
GS-15 of the General Schedule; each member of a uniformed service
whose pay grade is at or in excess of O-7 under section 201 of title
37, United States Code; and each officer or employee in any other
position determined by the Director of the Office of Government Ethics
to be of equal classification;
(4) each employee appointed pursuant to section 3105 of title 5,
United States Code;
(5) any employee not described in paragraph (3) who is in a position
in the executive branch which is excepted from the competitive service
by reason of being of a confidential or policymaking character, except
that the Director of the Office of Government Ethics may, by
regulation, exclude from the application of this paragraph any
individual, or group of individuals, who are in such positions, but
only in cases in which the Director determines such exclusion would
not affect adversely the integrity of the Government or the public's
confidence in the integrity of the Government;
(6) the Postmaster General, the Deputy Postmaster General, each
Governor of the Board of Governors of the United States Postal Service
and each officer or employee of the United States Postal Service or
Postal Rate Commission who occupies a position for which the rate of
basic pay is equal to or greater than 120 percent of the minimum rate
of basic pay payable for GS-15 of the General Schedule;
(7) the Director of the Office of Government Ethics and each
designated agency ethics official;
(8) any civilian employee not described in paragraph (3), employed in
the Executive Office of the President (other than a special government
(FOOTNOTE 1) employee) who holds a commission of appointment from the
President;
(FOOTNOTE 1) So in original. Probably should be capitalized.
(9) a Member of Congress as defined under section 109(12);
(10) an officer or employee of the Congress as defined under section
109(13);
(11) a judicial officer as defined under section 109(10); and
(12) a judicial employee as defined under section 109(8).
In plain english: all members of the President's cabinet, including Ms
Rice, would be included.
A salary of 120 percent of GS 15 would be $95,652 or above.
LEGISLATIVE BRANCH
Congress incorporated the entire Ethics Act in their ethics rules and
added a special provision.
SPECIAL PROVISION FOR MEMBERS OF CONGRESS
`Sec. 112. (a) Within 30 days of becoming a Member of Congress, that
Member shall--
`(1) divest himself or herself of any asset or interest which exceeds
$1,000 in real property (other than property used solely as the
personal residence of that Member or that Member's spouse) or in
stocks, bonds, commodity futures, or other forms of securities; or
`(2) place all assets and interests described in paragraph (1) in a
qualified blind trust.
`(b) In the case of any individual who is a Member of Congress on the
effective date of this section, that Member shall, within 30 days
after that effective date, comply with subsection (a).'.
http://dsausa.org/archive/Dems/Prop.html
And the Senate went a bit further:
Standing Rules of The Senate
RULE XXXIV
PUBLIC FINANCIAL DISCLOSURE
Further refines the rules for Senate staff
http://rules.senate.gov/senaterules/rule34.htm
You might find this article interesting:
U.S. GOVERNMENT INTEGRITY SYSTEMS AND ETHICS
By Jane S. Ley
http://usinfo.state.gov/journals/itdhr/0800/ijde/ley.htm
Search strategy: federal government "blind trust"; "ethics in
government act" "blind trust"
If you have questions about this response or require additional
information, please post a Request for Clarification before rating
this answer.
Nellie Bly
Google Answers Researcher |
Clarification of Answer by
nellie_bly-ga
on
03 Jan 2003 17:01 PST
You will find, I believe, that administration members have little or
no financial investment in North Korea, primarily because there is
little there to invest in.
While many countries, especially European, have recently opened
diplomatic relations with North Korea and that has spurred investment
interest, still, there is a low level of penetration by foreign
companies.
The main areas that interest Western firms at this point are light
manufacturing and export processing such as textiles and electronic
components.
The favored location for such industries is the Rajin-Sonborg trade
zone, which borders Russia and China and is similar to the special
trade zones that China developed in the early 1980s.
Activity is still in the early stages and no critical mass has been
developed. The latest development has been some firms looking at the
possibility of steel production. Key problems facing North Korea for
further development include the severe energy shortage, one of the
reasons they look to atomic energy.
Your instincts are correct about interests/ties to oil within the
administration. That can be documented in terms of business and
personal alliances and investments prior to becoming government
employees.
Should you wish to pursue that, you may wish to post another question.
Should you wish to bring such a question to my attention or that of
another specific researcher, please include the relevant researcher
name in the subject of the question.
Thank you for your rating on this question.
Nellie Bly
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