(Reuters) – U.S. Federal Reserve officers who violate proposed laws restricting their trading activities will face penalties of at least 10% on the investment value that was bought or sold. This is according to the Wall Street Journal.

They are part of a Senate bill not revealed by Democratic Senator Sherrod, Brown who had previously indicated that he intended to introduce legislation tightening ethics standards for the central bank.

According to The Journal, Senators stated that the bill is a companion piece to other legislation which would place similar restrictions upon members of Congress.

The senators’ proposal for Fed closely mirrors changes already being made by central banks.

Last week, the Fed banned stock purchases by top Fed officials. It also revealed a wide range of restrictions for their investing activities. This was six weeks after active trading reports by U.S. central banks policymakers caused an ethical uproar that resulted in two Fed employees being fired.

New rules by the Fed will restrict what types of financial securities officials can have, which includes a ban on individual stock purchases or individual bond holdings and agency-backed securities. The rules also require a 45-day notice of approval and advance notification for any transactions. They also stipulate that investments must be kept at least one year. There were no penalties for failing to comply with the rules.