; and (B) the Committee on Ethics of the House of Representatives. 13162. Prohibition on certain transactions and holdings involving covered financial instruments (a) Prohibition Except as provided in subsection (b), a Member of Congress, or any spouse of a Member of Congress, may not, during the term of service of the Member of Congress, hold, purchase, or sell any covered financial instrument. (b) Exceptions The prohibition under subsection (a) shall not apply to— (1) a sale by a Member of Congress, or a spouse of a Member of Congress, that is completed by the date that is— (A) for a Member of Congress serving on the date of enactment of the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act , 180 days after that date of enactment; and (B) for any Member of Congress who commences service as a Member of Congress after the date of enactment of the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act , 180 days after the first date of the initial term of service