The Food and Drug Administration's (FDA) filers (i.e., employees who are required to file either a confidential or public financial disclosure report) may not hold financial interests in companies which are significantly regulated by the FDA. For purposes of the FDA Conflict of Interest regulations and this listing, "significantly regulated" is defined as "an organization in which the sales of FDA-regulated products constitute ten percent or more of annual gross sales in the organization's previous fiscal year. Where an organization does not have a record of sales of FDA-regulated products, it will be deemed to be significantly regulated if its operations are solely in fields regulated by FDA."
As a service to our employees, FDA has developed this edition of the Listing of U.S. Industries, a listing of all U.S. Companies publicly traded on stock exchanges within the United States.
The listing is broken down into two categories:
Employees are reminded that criminal statute, Title 18 U.S.C. 208(a), prohibits all Federal employees from participating personally and substantially in an official capacity in any particular matter in which, to his knowledge, he or any person whose interests are imputed to him (spouse, minor children, etc.) has a financial interest, if the particular matter will have a direct and predictable effect on that interest.
Therefore, regardless of a company's rating, it may be a prohibited holding for an employee based on the nature of the employee's official duties. If this is the case, it is important for the employee to recuse him/herself from matters affecting the financial interest in question, and to seek guidance from the Ethics and Integrity Staff.
In addition, Confidential and Public Filers should be aware they are prohibited from purchasing certain sector mutual funds. A further explanation about mutual funds is offered here.