Regulatory Agency Appointment Reform Act

Regulatory Agency Appointment Reform Act - Establishes the Federal Regulatory Agency Nominating Board which shall compile a list of persons who are qualified to be commissioners, commission members or board members of specified independent regulatory bodies. States that when a vacancy occurs in such a position to be filled by presidential appointment, the Board shall submit to the President a list of three names of persons it deems qualified to fill such a position together with the reasons for the selection of such persons by the Board. Requires the President to make his nomination from such list.

Prohibits the selection of any person who, within three years immediately preceding such appointment, has been employed by, received substantial profits, fees, or wages from, or represented in a professional capacity, any industry or organization regulated by or directly affected by any regulatory agency. Prohibits the reappointment of any such person to a second term in such position. Limits for a period of two years after service as a member or commissioner of such agency the activities of such person as an employee or representative of any such organization affected by the activities of the regulatory agency on which such person served.

Requires members of the Nominating Board to file annual financial disclosure statements with the Comptroller General who shall maintain such statements as public records.