; and (iii) with respect to a covered investment which is first held by a covered official or a family member of a Member of Congress after the last day of either of the periods described in clauses (i) or (ii), the 90-day period which begins on the date on which such investment was first held by such official or family member. (b) Penalties (1) In general Except as provided in paragraph (2), a covered official in violation of this section, as determined by the supervising ethics office, shall pay a penalty in an amount equal to the fee set forth under section 13106(d)(1) of title 5, United States Code, for each such violation. (2) Exception (A) Penalty An individual described in subparagraph (C) who during any month is in violation of this section with respect to a covered investment, as determined by the supervising ethics office, shall pay a penalty in an amount equal to— (i) in the case of an individual who is a covered official, the salary of such official for that month