Requirement for professional code of conduct for certain Department of Defense positions

(a) In general Not later than August 1, 2027, the Secretary of Defense shall develop a professional code of conduct for individuals serving in positions in the Department of Defense specified in subsection (c), or adopt or modify an existing code of conduct to apply to those positions, to ensure that individuals in those positions have clear guidance on the ethics and standards governing their professional behavior. (b) Elements In developing, or adopting or modifying, a code of conduct under subsection (a), the Secretary shall ensure that the code— (1) reinforces the need for integrity, competence, diligence, and exercise of care in professional judgment by individuals serving in positions specified in subsection (c) in all actions representing the United States Government; (2) ensures the integrity of decision-making by those individuals and of data generated by those individuals that affects global capital markets; (3) requires those individuals to avoid any action that would potentially distort markets or lead to the perception of distorting or manipulating markets; (4) requires those individuals to, as representatives of the United States Government, take all care and caution to avoid real or perceived conflicts of interest; and (5) ensures those individuals conduct thorough documentation of— (A) all actions taken by those individuals while serving in the positions specified in subsection (c); and (B) all communication between those individuals and other government entities; and (C) all communication between those individuals and the private sector. (c) Positions specified A position specified in this subsection is any position of an employee or contractor in any of the following components of the Department of Defense: (1) The Economic Defense Unit. (2) The Office of Strategic Capital. (3) The Office of Expanded Competition. (4) The Office of the Assistant Secretary of Defense for Industrial Base Policy. (d) Briefing required Not later than September 15, 2027, the Secretary of Defense shall provide a briefing to the congressional defense committees regarding— (1) the implementation of the code of conduct required by subsection (a); (2) the number of employees and contractors covered by that code; and (3) the process the Department of Defense will use to regulate breaches of that code.