; (2) a major contractor of the agency; (3) an organization that has substantial lobbying contacts with the agency; or (4) an organization that otherwise poses the realistic potential for creating a substantial appearance of a conflict of interest. (c) Guidance The Director of the Office of Government Ethics shall issue guidance to executive agencies regarding the meaning of the terms substantially regulated , major contractor , substantial lobbying contacts , and substantial appearance of a conflict of interest specifically in the context of this Act. (d) Report If an agency head determines that no financial interest meets the criteria established in subsection (b), as defined by the Director of the Office of Government Ethics pursuant to subsection (c), and that issuance of a prohibited holdings regulation under this regulation is not possible, the head of the agency shall sign a report to Congress that— (1) explains in detail why there is no realistic potential for any officer or employee described in subsection (a) to encounter a conflict of interest in the performance of official duties; (2) describes in detail all steps undertaken by the agency to evaluate the potential for conflicts of interest to arise at the agency