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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.
When Congress amends the securities laws, those amendments have their own popular names (a few prominent examples include Securities Investor Protection Act of 1970, the Insider Trading Sanctions Act of 1984, the Insider Trading and Securities Fraud Enforcement Act of 1988 and the Dodd-Frank Act). These acts often include provisions that state ...
Overall, Perlmutter says he is reviewing bills but argues that Congress-specific transparency provisions in place are working and insider trading laws also apply to members of Congress.
In 2006, Reps. Brian Baird (D-Wash.) and Louise Slaughter (D-N.Y.) introduced a bill into Congress. Titled "Stop Trading on Congressional Knowledge" -- a "STOCK" Act -- the bill aimed to prohibit ...
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 ...
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 ...
The stock sales made by various lawmakers from both parties during the March banking turmoil are renewing calls for an outright ban of Congressional trading. Congress hasn't banned lawmakers from ...