1. Short title This Act may be cited as the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act . 2. Banning insider trading in Congress (a) In general The Ethics in Government Act of 1978 (5 U.S.C. App.) is amended by inserting after title I the following: II Banning insider trading in Congress 201. Definitions In this title: (1) Covered financial instrument (A) In general The term covered financial instrument means— (i) any investment in— (I) a security (as defined in section 3(a) of Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) )); (II) a security future (as defined in that section); or (III) a commodity (as defined in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a )); and (ii) any economic interest comparable to an interest described in clause (i) that is acquired through synthetic means, such as the use of a derivative, including an option, warrant, or other similar means. (B) Exclusions The term covered financial instrument does not include— (i) a diversified mutual fund; (ii) a diversified exchange-traded fund; (iii) a United States Treasury bill, note, or bond; or (iv) compensation from the primary occupation of a spouse or dependent of a Member of Congress. (2) Member of Congress The term Member of Congress has the meaning given the term in section 109. (3) Qualified blind trust The term qualified blind trust has the meaning given the term in section 102(f)(3). (4) Supervising ethics committee The term supervising ethics committee means, as applicable— (A) the Select Committee on Ethics of the Senate