; or (2) enter into a transaction that creates a net short position in any security. (b) Positions A covered individual may not serve as an officer or member of any board of any for-profit association, corporation, or other entity. 13163. Divestiture With respect to any covered financial interest held by a covered individual, the covered individual shall sell the covered financial interest during the 180-day period beginning on the later of— (1) the date on which the covered individual assumes office or employment as a covered individual; and (2) the date of enactment of this Act. 13164. Administration and enforcement (a) Administration Each supervising ethics office may issue guidance relating to any matter covered by this subchapter, including— (1) whether a covered individual may hold an employee stock option or other, similar instrument that has not vested before the date on which the covered individual assumes office or employment as a covered individual; and (2) the process and timeline for determining the date on which a covered individual shall no longer serve as an officer or member of any board of any for-profit association, corporation, or other entity. (b) Enforcement A covered individual who knowingly fails to comply with this subchapter— (1) shall disgorge to the Treasury of the United States any profit from a transaction or holding involving a covered financial interest that is conducted in violation of this subchapter