S.1903 - STOCK bill ("STOCK Act")

A bill 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 (4)

All Bill Titles

  • Popular: STOCK bill ("STOCK Act") as .
  • Official: A bill 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.
  • Short: Stop Trading on Congressional Knowledge Act as introduced.
  • Popular: STOCK bill ("STOCK Act").

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Ajscott123 12/07/2011 10:14am
in reply to Ajscott123 Dec 06, 2011 4:40pm

Also just to clarify – the bill will be revised and improved over time, but the bill should be opposed until the bill language is specific and severe enough that we might be satisfied with the equality.

Sumflow 12/11/2011 12:19am

The loophole in which members of congress and legislative staffers are immune from enforcement of insider-trading laws, is because the delayed reporting of securities transactions by congress, defeats, obstructs, and impairs its use as timely evidence. Insider-trading cases are hard to prove, because the trades must be tightly linked to the events or information on which they are allegedly based.

Trades need to be disclosed in “real time or near real time,” so that the memories of potential witnesses are fresh and suspects do not have time to cover up their actions. The SEC, which conducts most insider-trading investigations, urged faster disclosure of stock trades by members of Congress on electronic, searchable forms. This is why no Congress people were investigated under the current laws.

Sumflow 12/22/2011 6:07am

Central to this revised law proposed by the Senate is a “duty arising from a relationship of trust and confidence” that would be owed by members of Congress to the people,” and traders need to disclose nearer to real time,” so that the memories of potential witnesses are fresh, and they do not have time to cover up their actions.

Ajscott123 12/06/2011 4:40pm

This is false advertising – the current proposed bills are completely flawed. They only require Congress to report on trades 90 days after they have made them — it does NOT stop insider trading.

Users should be outraged by this empty proposal surrounded by a candy-coated shell. Oppose this bill not for the idea behind it, but for the substance (or 100% lack thereof!!)


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