The U.S. Office of Government Ethics has issued a final rule to adjust the civil monetary penalties related to the Ethics in Government Act, following the guidelines of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This rule updates the penalty amounts based on inflation, using a specific formula, to maintain their deterrent effect. The penalties for various violations have been increased slightly, such as those related to financial disclosures and breaches of trust, and these changes apply to penalties assessed after January 15, 2021. The adjustments help ensure that monetary penalties keep up with the cost of living over time.
Simple Explanation
The U.S. Office of Government Ethics made new rules to make sure people who work in the government pay more money when they break certain rules, like hiding how much money they earn, to keep up with price changes. These changes happened after January 15, 2021, and help make sure the fines are still a good reminder not to break the rules.