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S. 3990 117th Congress Senate

Insider Trading Prohibition Act

Official title: A bill to amend the Securities Exchange Act of 1934 to prohibit certain securities trading and related communications by those who possess material, nonpublic information, and for other purposes.

Introduced: April 4, 2022 Introduced by: Jack Reed Democratic · Rhode Island See on congress.gov
Finance and Financial Sector Fraud offenses and financial crimesGovernment information and archivesSecurities
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action July 28, 2022

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

 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.

 Related & companion bills 1
  • HR 2655 Insider Trading Prohibition Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 3990: Insider Trading Prohibition Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-3990/
MLA
"S. 3990: Insider Trading Prohibition Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-3990/.
Bluebook (legal)
S. 3990, 117th Cong. (2026), https://openamerica.io/bill/117-S-3990/.
Markdown link
[S. 3990: Insider Trading Prohibition Act](https://openamerica.io/bill/117-S-3990/)
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