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B-130961 1 (1983-06-22)

handle is hein.gao/gaobabjaj0001 and id is 1 raw text is: COMPMOLLEK JENEPAL OF THE UNITED STATES 2 WASHINGTON-D.C. 20648 B-130961 June 22, 1983 The Hohorabi&.Don'Albosta Chairman,' Subc'Irittee. on Human Resources Committee on Post Office and Civil. Service s House of Representatives ---,. JtL, * Dear Mr. Chairman: . This ims'in4espons to your. letter of June 7, 1983, requesting our2Commenrts on a proposed amendment to H.R. 2717, a bill to reathoriz6 the Office of Government Ethics and to close' dertaing'ps that have become apparent since enactment of the 1978 Ethics Act. 2$h pt4pmendrmnmet woudieqire cJzmtas each of t'.4rmaJori$elligence 'wncLth et Intelligence Ancy!.-the Federal Bureau of:Invesigation,:hneeense Intelifgence '%Age_--ncy, a d 'the Nktional S'euffity Agency--to eicabiish aftrust ft1ey,'acquire securities 'worth more than $100,000. The trust may. be either a qualified blind trust as defited in section 202(f),(3) of the 1978 Ethics Act or a well- diversified portfolio trust which meets the requirements of section'202(f)(4) (B) of that Act. The1stated purpose6f 'then--a ent'is to pevent the peculiar' advan age of their pozi i i,,suah as access to in- side information, ,froaiaffording them theV'opportunity,to use their Government posiid4n for personal 'gain. It is intended to 'prevent the appearance of impropriety and to protect the reputation of these agencies and the Government as a whole. .As,,we understand .it, the',-imitatoto, these four agenciesis premisedi'on the view that they'have the greatest -access to sensitive iformation and are subject to the least oversight of any agencies in the Government. , Wehive no alternative la nguageto o ffbr-w - ih would more effectively carry out'tihe purpose of placing coptrol of' the' assets in-,an. independent trustee who does not have access to or knowledge of the inside information. This should operate as a significant limitation on the use of such information for financial gain, and would remove the appearance of a conflict or impropriety. I 1

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