S 2038 · 112th Congress · Government Operations and Politics
STOCK Act
Bill Progress
1
Introduced✓
Committee3
Senate Vote4
House✓
EnactedLatest: By Senator Lieberman from Committee on Homeland Security and Governmental Affairs filed written report. Report No. 112-244.(2012-12-03)
Plain Language Summary
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Stop Trading on Congressional Knowledge Act of 2012 or STOCK Act - Amends the Congressional Accountability Act of 1995 to prohibit Members of Congress and congressional employees from using any nonpublic information derived from their positions as Members or congressional employees, or gained from performance of the individual's duties, for personal benefit. Directs the congressional ethics committees to issue rules or regulations to carry out the purposes of this prohibition. Declares that such Members and employees are not exempt from the insider trading prohibitions of the Securities Exchange Act of 1934 and Rule 10b-5. Subjects violators of these prohibitions to appropriate punitive, disciplinary, and other remedial actions. Amends the Commodity Exchange Act to apply to Members and congressional employees its prohibitions against certain transactions involving the purchase or sale of any commodity in interstate commerce, or for future delivery, or any swap. Amends the Ethics in Government Act to require Members, congressional officers, and congressional employees to file reports on financial transactions. Directs the Comptroller General to report on the role of political intell…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeS. 2038, STOCK Act
Jan 31, 2012Cost estimate for the bill as reported by the Senate Committee on Homeland Security and Government Affairs on January 26, 2012
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office