1. Short title This Act may be cited as the Executive Branch Conflict of Interest Prevention Act of 2023 . 2. Establishment of prohibited holdings regulations (a) Definitions In this Act: (1) Covered government official The term covered government official includes any officer or employee who occupies a position classified above GS–15 of the General Schedule or, in the case of positions not under the General Schedule— (A) for which the rate of basic pay is equal to or greater than 120 percent of the minimum rate of basic pay payable for GS–15 of the General Schedule; (B) each member of a uniformed service whose pay grade is at or in excess of O–7 under section 201 of title 37, United States Code; and (C) each officer or employee in any other position determined by the Director of the Office of Government Ethics to be of equal classification. (2) Diversified fund The term diversified fund means a widely held investment fund described in section 13104(f)(8) of title 5, United States Code, that does not have a stated policy of concentrating its investments in any industry, business, or single country other than the United States. (b) In general Subject to any exception for an interest held through a diversified fund or a qualified blind trust, no covered government official shall own any financial interest in a corporation, business, partnership, or other for-profit entity that is determined to be— (1) substantially regulated by the agency or otherwise directly influenced by the action of the executive agency; (2) a major contractor of the agency; (3) an organization that has substantial lobbying contacts with the agency