U.S. Congress - H.R.1148 STOCK bill ("STOCK Act")
H.R.1148 - STOCK bill ("STOCK Act")
To prohibit commodities and securities trading based on nonpublic information relating to Congress, to require additional reporting by Members and employees of Congress of securities transactions, and for other purposes. view all titles (3)
All Bill Titles
- Popular: STOCK bill ("STOCK Act").
- Short: Stop Trading on Congressional Knowledge Act as introduced.
- Official: To prohibit commodities and securities trading based on nonpublic information relating to Congress, to require additional reporting by Members and employees of Congress of securities transactions, and for other purposes. as introduced.
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- Past Seven Days: 351
- All-Time: 8,351
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OpenCongress Summary
Amends the Security and Exchange Act to make it illegal for any person to buy or sell stocks, securities, derivatives or other financial instruments while in possession of nonpublic information related to “pending or prospective” legislative matters if the information was obtained “knowingly from a Member or employee of Congress” or “by reason of being a Member or employee of Congress.” It would also amend the House Ethics manual to say that House employees shall not disclose nonpublic information if they have “reason to believe” that the information will be used to inform financial transaction decisions.Official Summary
3/29/2011--Introduced.Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to prohibit purchase or sale of eithOfficial Summary
3/29/2011--Introduced.Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained:(1) knowingly from a Member or employee of Congress,
(2) by reason of being a Member or employee of Congress, or
(3) from other federal employees and derived from their federal employment. Amends the Code of Official Conduct of the Rules of the House of Representatives to prohibit any Member, officer, or employee of the House from disclosing material nonpublic information relating to any pending or prospective legislative action relating to any publicly-traded company or to any commodity if such person has reason to believe that the information will be used to buy or sell the securities of that publicly traded company or that commodity for future delivery based on such information. Directs both the Committee on Agriculture and the Committee on Financial Services of the House of Representatives to hold hearings on the implementation by the CFTC and the SEC of such financial transaction prohibitions. Amends the Ethics in Government Act of 1978 to require formal disclosure of certain securities and commodities futures transactions to either the Clerk of the House of Representatives or the Secretary of the Senate. Amends the Lobbying Disclosure Act of 1995 to subject to its registration, reporting, and disclosure requirements, as well as requirements for identification of clients and covered legislative and executive officials, all political intelligence activities, contacts, firms, and consultants. Requires the Comptroller General to include political intelligence activities, contacts, firms, and consultants in its annual compliance audits and reports.
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Organizations Supporting H.R.1148
- Citizens for Responsibility and Ethics in Washington
- Public Interest Research Group
- Campaign Legal Center
- Democracy 21
- Common Cause
- Public Citizen
- ...and 3 more. See all.
Organizations Opposing H.R.1148
- None via MapLight at this time.
Recent News Coverage
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Bishop Supports Insider Trading Ban For Government Officials
Bishop voted yes to support the spirit of the legislation, but said he would have preferred that the House pass the version of the ban that he co-sponsored, the Stop Trading on Congressional Knowledge (STOCK) Act (H.R. 1148). Bishop said the version passed
House Passage of STOCK Act
Michaud cosponsored the House-version of the STOCK Act (H.R.1148). "These commonsense rules will help ensure that no member of Congress profits from the nonpublic information they receive in their official capacity," said Michaud. "The voters in ...
House Passage of STOCK Act
Michaud cosponsored the House-version of the STOCK Act (H.R.1148). "These commonsense rules will help ensure that no member of Congress profits from the nonpublic information they receive in their official capacity," said Michaud. "The voters in our ...
Recent Blog Coverage
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Capital Thinking Update - February 13, 2012 | Patton Boggs LLP ...
The Stop Trading on Congressional Knowledge Act or STOCK Act (H.R. 1148) passed by a vote of 417-2. The bill creates a specific fiduciary duty for Members and staff with respect to knowledge obtained as a result of their ...
NH INSIDER- Your Source for NH Politics - Press Releases - Frank's ...
I was an early cosponsor of the House's version of the STOCK Act, H.R. 1148, too. This bill would prohibit Members of Congress, the Executive Branch and their staffs from using nonpublic information for personal benefit.
NH INSIDER- Your Source for NH Politics - Press Releases - Frank's ...
I was an early cosponsor of the House's version of the STOCK Act, H.R. 1148, too. This bill would prohibit Members of Congress, the Executive Branch and their staffs from using nonpublic information for personal benefit.
Latest Letters to Congress
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H.R.1148 STOCK bill ("STOCK Act")
mrpatrick
February 15, 2012
I am writing as your constituent in the 1st Congressional district of Oklahoma. I am writing as your constituent in the 1st Congressional district of Oklahoma. I support H.R.1148 - STOCK bill ("STOCK Act"), and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
I know the most recent action for this bill is as follows: "Motion to Discharge Committee filed by Mr. Walz (MN). Petition No: 112-3. (Discharge petition text with... -
H.R.1148 STOCK bill ("STOCK Act")
thesurfer
February 09, 2012
I am writing as your constituent in the 7th Congressional district of Florida. I oppose H.R.1148 - STOCK bill ("STOCK Act"), and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
Randy Vincelette -
H.R.1148 STOCK bill ("STOCK Act")
qzh00k
February 04, 2012
I am writing as your constituent in the 3rd Congressional district of Oregon. I support H.R.1148 - STOCK bill ("STOCK Act"), and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
I know the most recent action for this bill is as follows: "Motion to Discharge Committee filed by Mr. Walz (MN). Petition No: 112-3." on Feb 01, 2012
Sincerely,
Richard Wood
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