HR 1148 · 112th Congress · Government Operations and Politics

Stop Trading on Congressional Knowledge Act

Introduced 2011-03-17· Sponsored by Rep. Walz, Timothy J. [D-MN-1]· House

Bill Progress

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Introduced
Committee
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House Vote
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Senate
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Enacted
Latest: Motion to Discharge Committee filed by Mr. Walz (MN). Petition No: 112-3. (<a href="http://clerk.house.gov/112/lrc/pd/petitions/DisPet0003.xml ">Discharge petition</a> text with signatures.)(2012-02-01)

Plain Language Summary

[AI summary unavailable — showing source text] Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress, (2) by reason of being a Member or employee of Congress, or (3) from other federal employees and derived from their federal employment. Amends the Code of Official Conduct of the Rules of the House of Representatives to prohibit any Member, officer, or employee of the House from disclosing material nonpublic information relating to any pending or prospective legislative action relating to any publicly-traded company or to any commodity if such person has reason to believe that the information will be used to buy or sell the securities of that publicly traded company or that commodity for future delivery based on such information. Directs both the…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

18 Democrats2 Republicans