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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 ...
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 STOCK Act prohibits members of Congress and other government officials from trading based on knowledge obtained as a result of their jobs.
The past few weeks have seen a flurry of activity around the STOCK Act. The congressional insider trading ban, which languished in the House for nearly six years, passed the Senate with a 96-3 ...
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.
Senator Mark Kelly of Arizona sat down with Yahoo Finance to talk about his Ban Congressional Stock Trading Act, which would confiscate a lawmaker’s entire salary if they break the rules.
SEC Rule 10b5-1, codified at 17 CFR 240.10b5-1, is a regulation enacted by the United States Securities and Exchange Commission (SEC) in 2000. [1] The SEC states that Rule 10b5-1 was enacted in order to resolve an unsettled issue over the definition of insider trading, [2] which is prohibited by SEC Rule 10b-5.
Update (Jan. 30, 9:30 p.m. EST): Earlier this evening, the Senate voted 93-2 in favor of allowing debate to go forward on the STOCK Act. According to ABC News, the Senate could approve final ...