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HR 5015 109th Congress House Congress Congressional employees Congressional ethics Congressional officers Congressional publicity Congressional reporting requirements Data banks Directories Finance and Financial Sector Futures trading Government Operations and Politics Government paperwork Information disclosure (Securities law) Insider trading in securities Investment advisers Legislation Members of Congress Misconduct in office Science, Technology, Communications

Stop Trading on Congressional Knowledge Act

Introduced: March 28, 2006 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 28, 2006
Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Mar 28, 2006
Introduced in House
 Plain-English summary Congressional Research Service

Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodities Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) to prohibit a person from buying or selling securities while in possession of related material nonpublic information regarding legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress; or (2) by reason of being a Member or employee of Congress.

Directs the SEC and the CFTC to prohibit any Member or employee of Congress, or any other person, from disclosing material nonpublic information regarding legislative action relating to any issuer if that Member, employee, or other person has reason to believe that the information will be used to buy or sell the securities of such issuer based on that information.

Amends the Ethics in Government Act of 1978 to require formal disclosure of certain securities transactions to the Clerk of the House of Representatives or the Secretary of the Senate.

Amends the Lobbying Disclosure Act of 1995 to subject to its registration, reporting, and disclosure requirements political intelligence activities, contacts, firms, and consultants.

What's happening now March 28, 2006

Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 4
 Cosponsors 1
All 1 Democratic 1