[Code of Federal Regulations]
[Title 11, Volume 1]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 11CFR7.10]

[Page 36]
 
                       TITLE 11--FEDERAL ELECTIONS
 
                 CHAPTER I--FEDERAL ELECTION COMMISSION
 
PART 7_STANDARDS OF CONDUCT--Table of Contents
 
  Subpart B_Conduct and Responsibilities of Employees or Commissioners
 
Sec.  7.10  Financial interests.

    (a)(1) A Commissioner or employee shall not engage in, directly or 
indirectly, a financial transaction as a result of, or primarily relying 
on, information obtained through his or her Commission employment.
    (2) A Commissioner or employee shall not have a direct or indirect 
financial interest that conflicts substantially, or appears to conflict 
substantially, with his or her Commission duties and responsibilities, 
except in cases where the Commissioner or employee makes full 
disclosure, and the Commissioner or employee disqualifies himself or 
herself from participating in any decisions, approval, disapproval, 
recommendation, the rendering of advice, investigation, or otherwise in 
any proceeding of the Commission in which the financial interest is or 
appears to be affected. The filing of public financial disclosure 
reports will constitute full disclosure for all individuals who are 
required to file such reports pursuant to the Ethics in Government Act. 
Until such time as the extent, shape and form of confidential financial 
disclosure reports required of employees by the Ethics in Government Act 
has been determined, full disclosure by an employee will require that 
that employee submit a written statement to the Ethics Officer 
disclosing the particular financial interest which conflicts 
substantially, or appears to conflict substantially, with the employee's 
duties and responsibilities.
    (3) A Commissioner or employee should disqualify himself or herself 
from a proceeding in which his or her impartiality might reasonably be 
questioned where the Commissioner or employee knows that he or she, or 
his or her spouse, has an interest in the subject matter in controversy 
or is a party to the proceeding, or any other interest that could be 
substantially affected by the outcome of the proceeding.
    (b) This section does not preclude a Commissioner or employee from 
having a financial interest or engaging in financial transactions to the 
same extent as a private citizen not employed by the Government provided 
that the activity is not prohibited by law, Executive Order 11222, or 
Commission regulations.