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S 3990 117th Congress Senate Finance and Financial Sector Fraud offenses and financial crimes Government information and archives Securities

Insider Trading Prohibition Act

Introduced: April 4, 2022 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 28, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Apr 5, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
Apr 4, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1937-1938)
Apr 4, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Insider Trading Prohibition Act

This bill generally provides statutory authority for the prohibition against securities trading, as well as related communications to others, by a person who has access to material, nonpublic information and is aware or recklessly disregards that the information is material and nonpublic. Further, that person must either be aware or recklessly disregards that the information has been obtained wrongfully or that the trading would be wrongful.

The bill also provides, for purposes of establishing a violation of this prohibition, that it is not necessary for such a person to know specifically how such information was obtained or whether a personal benefit was paid or promised.

What's happening now July 28, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held.

 Committees of jurisdiction 1