NY A03614

Prohibits members and employees of the New York state legislature, executive branch employees (including the governor, lieutenant governor, comptroller, and attorney general), judicial officers, and judicial employees from using nonpublic information gained from their official positions to make private profits

Establishes that covered officials owe a duty of trust and confidence to the state and its citizens regarding material, nonpublic information, specifically for purposes of insider trading prohibitions under the federal Securities Exchange Act of 1934

Bans all covered public officers and employees from purchasing securities in initial public offerings (IPOs) except through means available to the general public

Directs the Legislative Ethics Commission, Commission on Ethics and Lobbying in Government, and Advisory Committee on Judicial Ethics to issue interpretive guidance clarifying these prohibitions for their respective branches

Preserves existing federal securities law enforcement authority and does not diminish other ethics obligations or official duties of covered individuals