[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR5001.102]

[Page 753]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
               CHAPTER XL--INTERSTATE COMMERCE COMMISSION
 
PART 5001_SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE 
 
Sec. 5001.102  Prohibited financial interests in for-hire transportation 

companies.

    (a) General prohibition. Except as provided in paragraph (c) of this 
section, no member or other employee of the Interstate Commerce 
Commission shall, directly or indirectly:
    (1) Be employed by or hold any other official relationship with any 
for-hire transportation company whether or not subject to the Interstate 
Commerce Act; or
    (2) Own securities of or be in any manner pecuniarily interested in 
any for-hire transportation company whether or not subject to the 
Interstate Commerce Act.
    (b) Indirect relationships and interests. (1) For the purposes of 
paragraph (a) of this section, an indirect relationship with or interest 
in a for-hire transportation company includes, but is not limited to, an 
interest in:
    (i) Any company that owns or controls and has more than two percent 
of its assets directly invested in or dervices more than two percent of 
its income directly from a for-hire transportation company whether or 
not subject to the Interstate Commerce Act; or
    (ii) Any company, mutual fund or other enterprise which has an 
interest of more than ten percent of its assets directly invested in or 
derives more than ten percent of its income directly from for-hire 
transportation companies whether or not subject to the Interstate 
Commerce Act.
    (2) For the purposes of determining the applicability of this 
paragraph, an employee may rely on the most recent financial statement 
issued to its security holders by the company, fund or other enterprise.
    (c) Exceptions. (1) Where a previously proper holding of a member or 
other employee becomes prohibited because of the enterprise's 
acquisition of an interest in a for-hire transportation company, the 
employee shall have nine months within which to dispose of the interest.
    (2) In cases of financial hardship where the relationship or 
interest is not prohibited by 49 U.S.C. 10301(d) or 10306(e), the 
Designated Agency Ethics Official may grant a written waiver of the 
prohibition in paragraph (a) of this section based on a determination 
that application of the prohibition is not necessary to ensure public 
confidence in the impartiality and objectivity with which the 
Commission's programs are administered or to avoid a violation of part 
2635 of this title.