5 CFR 7501 - SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

The Department of Housing and Urban Development (HUD), with the concurrence of the Office of Government Ethics (OGE), is finalizing the proposed rule to amend its existing Supplemental Standards of Ethical Conduct, which are regulations for HUD officers and employees that supplement OGE's Standards of Ethical Conduct for Employees of the Executive Branch (Standards). To ensure a comprehensive and effective ethics program at HUD, and to address ethical issues unique to HUD, this final rule reflects statutory changes that were enacted subsequent to the codification of HUD's Supplemental Standards of Conduct regulation in 1996. Significantly, this final rule reflects the transfer of general regulatory authority over the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation from HUD to the Federal Housing Finance Agency (FHFA). This final rule also revises definitions used in HUD's Supplemental Standards of Conduct to reflect updated titles and positions and clarifies existing prohibitions on certain financial interests and outside employment to better guide employee conduct, while upholding the integrity of HUD in the administration of its programs. Finally, this final rule more clearly describes the role and responsibility of the HUD Office of Inspector General in the agency's ethics program. This rule follows publication of a March 14, 2012, proposed rule and considers public comment on the proposed rule, but makes no changes at this final rule stage.

The Department of Housing and Urban Development (HUD), with the concurrence of the Office of Government Ethics (OGE), is finalizing the proposed rule to amend its existing Supplemental Standards of Ethical Conduct, which are regulations for HUD officers and employees that supplement OGE's Standards of Ethical Conduct for Employees of the Executive Branch (Standards). To ensure a comprehensive and effective ethics program at HUD, and to address ethical issues unique to HUD, this final rule reflects statutory changes that were enacted subsequent to the codification of HUD's Supplemental Standards of Conduct regulation in 1996. Significantly, this final rule reflects the transfer of general regulatory authority over the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation from HUD to the Federal Housing Finance Agency (FHFA). This final rule also revises definitions used in HUD's Supplemental Standards of Conduct to reflect updated titles and positions and clarifies existing prohibitions on certain financial interests and outside employment to better guide employee conduct, while upholding the integrity of HUD in the administration of its programs. Finally, this final rule more clearly describes the role and responsibility of the HUD Office of Inspector General in the agency's ethics program. This rule follows publication of a March 14, 2012, proposed rule and considers public comment on the proposed rule, but makes no changes at this final rule stage.