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Curbs on Insider Trading on Capital Hill | Governance Insight

The Scott Brown proposal of last Monday seemingly found very few against it even as the already illegal insider trading is made illegal

Official portrait of United States Senator Sco...

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for all members of the Congress and the executive branch. The bill will allow th eDepartment of Justice to prosecute, members of the Executive on insider trading actions, with members required to report stock transactions within 50 days and explicitly reiterating against the use of non public information for personal gains, explicitly mentioning that insider trading is illegal for members of the Congress, and members of the Executive i.e. all officers and office holders on Capitol Hill, the White House, Congress House of Representatives and the Senate incl members who deal with the lobbies and deliberate on future laws and grants that have been legally been used to deliver personal fortunes

The Senate passed the bill 96-3 last week

The House is ready to pass a Republican bill to ban federal officials from insider trading, legislation that was heavily

English: Partisan makeup of the Senate at the ...

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influenced by Wall Street firms that want to avoid new public disclosure rules.

Democrats complained the bill was gutted when Republicans dropped a requirement that people who collect information from Congress — and sell it to investment firms — should register like lobbyists. They also would have to file public reports on their activities. The Senate’s version of the bill included the registration and disclosure provisions.

The bill is likely to be passed by the house today

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One comment on “Curbs on Insider Trading on Capital Hill | Governance Insight

  1. Pingback: Pelosi Amendment (STOCK ACT) signed into law | Insider Insight | The Banking and Strategy Initiative

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This entry was posted on February 9, 2012 by in Financial Markets and tagged , , , , , , .

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