Page:United States Statutes at Large Volume 103 Part 2.djvu/725

 PUBLIC LAW 101-194—NOV. 30, 1989 103 STAT. 1735 respect to such trust that may not be disclosed under paragraph (3) of this subsection; (ii) acquire any holding the ownership of which is prohibited by the trust instrument; (iii) solicit advice from any interested party with respect to such trust, which solicitation is prohibited by paragraph (3) of this subsection or the trust agree- ment; or (iv) fail to file any document required by this subsection. "(B) A reporting individual shall not knowingly or negligently (i) solicit or receive any information with respect to a qualified blind trust of which he is an interested party that may not be disclosed under paragraph (3)(C) of this subsection or (ii) fail to file any document required by this subsection. "(C)(i) The Attorney General may bring a civil action in any appropriate United States district court against any individual who knowingly and willfully violates the provisions of subparagraph (A) or (B) of this paragraph. The court in which such action is brought may assess against such individual a civil penalty in any amount not to exceed $10,000. "(ii) The Attorney General may bring a civil action in any appro- priate United States district court against any individual who neg- ligently violates the provisions of subparagraph (A) or (B) of this paragraph. The court in which such action is brought may assess against such individual a civil penalty in any amount not to exceed $5,000. "(7) Any trust may be considered to be a qualified blind trust if— "(A) the trust instrument is amended to comply with the requirements of paragraph (3) or, in the case of a trust in- strument which does not by its terms permit amendment, the trustee, the reporting individual, and any other interested party agree in writing that the trust shall be administered in accord- ance with the requirements of this subsection and the trustee of such trust meets the requirements of paragraph (3)(A); except that in the case of any interested party who is a dependent child, a parent or guardian of such child may execute the sigreement referred to in this subparagraph; "(B) a copy of the trust instrument (except testamentary provisions) and a copy of the agreement referred to in subpara- graph (A), and a list of the assets held by the trust at the time of approval by the supervising ethics office, including the category oi value of each asset as determined under subsection (d) of this section, are filed with such office and made available to the public as provided under paragraph (5)(D) of this subsection; and "(C) the supervising ethics office determines that approval of the trust arrangement as a qualified blind trust is in the particular case appropriate to assure compliance with ap- plicable laws and regulations. "(8) A reporting individual shall not be required to report the financial interests held by a widely held investment fund (whether such fund is a mutual fund, regulated investment company, pension or deferred compensation plan, or other investment fund), if— "(A)(i) the fund is publicly traded; or "(ii) the assets of the fund are widely diversified; and "(B) the reporting individual neither exercises control over hor has the ability to exercise control over the financial in- terests held by the fund. "(g) Political campaign funds, including campaign receipts and expenditures, need not be included in any report filed pursuant to this title.

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