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The Stop Trading on Congressional Knowledge (STOCK) Act of 2012 (Pub. L. 112–105 (text), S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The law prohibits the use of non-public information for private profit, including ...
The 2020 congressional insider trading scandal was a political scandal in the United States involving allegations that several members of the United States Senate violated the STOCK Act by selling stock at the start of the COVID-19 pandemic in the United States and just before a stock market crash on February 20, 2020, using knowledge given to them at a closed Senate meeting.
The practice of so-called insider trading in Congress has faced widespread criticism in recent years because lawmakers have access to non-public information. ... a 2012 law called the Stop Trading ...
Trading in Congress has long been criticized by government watchdogs, who say the access to nonpublic information creates a temptation for lawmakers to prioritize their own finances over the ...
(The Center Square) – Pennsylvania leads the renewed charge against Congressional insider trading. Rep. Brian Fitzpatrick, R-Penn., revived 2023's Bipartisan Restoring Faith in Government Act ...
Several arguments against outlawing insider trading have been identified: for example, although insider trading is illegal, most insider trading is never detected by law enforcement, and thus the illegality of insider trading might give the public the potentially misleading impression that "stock market trading is an unrigged game that anyone ...
Nevertheless, Congress didn't exempt itself from the law against insider trading -- at least in part because there isn't one. Unlike some other countries, the United States has no law forbidding ...
Congress is actively debating whether to overhaul the Stop Trading on Congressional Knowledge Act of 2012. A congressional hearing is scheduled for April 7.