Given the scope of all government officials it should just be the case that you cannot trade individual equities, stocks or have any outside investments wholesale.
Otherwise how could you stop it? It’s not like when you work at big co and you just stop trading their stock. You get access to information that clearly will be material potentially months in advance.
They'll just do something similar to what some engineering managers do in the software industry. They'll tip off their cousin or friend of a friend of some opportunity (like needing to hire 10 engineers for a new initiative) and when they make money by acting on the information they reward the tipper with cars, vacations, homes, etc.
Sometimes managers will only hire through staffing agencies owned by family friends and get indirect kickbacks.
When I first heard about this my initial question was how do they not get caught when the assets are gifted or transferred to the manager's name. Turns out they don't actually transfer the assets to their name but they effectively own it through free usage.
My spouse was a minor elected official in california, so we had to fill out form 700. I was already pretty much ready to go on broad based mutual funds, but needing to fill that out for anything that isn't a broad based mutual fund put any thoughts of individual equities out of my mind. (Other than employment based stock, which we reported out of caution, even though my employer had no operations in or near the district)
Nit: MNPI (material, non-public information) has strict definitions. Not all internal information are considered MNPI.
The vast majority of government employees would not have access to MNPI.
Why does making this rule matter? The pardon makes it all irrelevant.
The problem is Trump’s family and friends and donors and people who have otherwise bribed him all can benefit from actions the administration takes. It’s not as simple as restricting the current officials.
How about we start with congress and see how that goes? Been a point of discussion for a long, long time and politicians do not seem to be interested in regulating themselves at all.