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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.
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 ...
A bipartisan proposal to ban trading by members of Congress and their families has dozens of sponsors, but it has not received a vote. Although lawmakers are required to disclose stock ...
His predecessor, former Rep. Kevin McCarthy of California, did express support for a stock trading ban. "The perception of Congress, whether true or not, is that some may take advantage of insider ...
In the United States, Sections 16(b) and 10(b) of the Securities Exchange Act of 1934 directly and indirectly address insider trading. The U.S. Congress enacted this law after the stock market crash of 1929. [8]
Congress is actively debating whether to overhaul the Stop Trading on Congressional Knowledge Act of 2012. A congressional hearing is scheduled for April 7.
Congressional stock trading is back in the limelight following a New York Times analysis that found 97 members of Congress engaged in stock market transactions that could potentially be seen as ...