Skip to main content
HR 559 98th Congress House Finance and Financial Sector Crime prevention Insider trading in securities Securities and Investments Securities regulation Tender offers White collar crime

Insider Trading Sanctions Act of 1984

Introduced: January 6, 1983 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 25 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 10, 1984
Became Public Law No: 98-376.
Aug 10, 1984
Signed by President.
Aug 3, 1984
Presented to President.
Jul 31, 1984
Measure Signed in Senate.
Jul 25, 1984
House Agreed to Senate Amendments by Unanimous Consent.
Jul 25, 1984
Resolving differences -- House actions: House Agreed to Senate Amendments by Unanimous Consent.
Jun 29, 1984
Passed Senate in lieu of S. 910 with an amendment by Voice Vote.
Jun 29, 1984
Passed/agreed to in Senate: Passed Senate in lieu of S. 910 with an amendment by Voice Vote.
Jun 29, 1984
Senate struck all after the Enacting Clause and substituted the language of S. 910 amended.
Jun 29, 1984
Senate Committee on Banking discharged by Unanimous Consent.
Apr 3, 1984
Subcommittee on Securities. Hearings held. Hearings printed: S.Hrg. 98-831.
Sep 20, 1983
Received in the Senate and read twice and referred to the Committee on Banking.
Sep 19, 1983
Passed House (Amended) by Voice Vote.
Sep 19, 1983
Passed/agreed to in House: Passed House (Amended) by Voice Vote.
Sep 19, 1983
Called up by House Under Suspension of Rules.
Sep 15, 1983
Placed on Union Calendar No: 221.
Sep 15, 1983
Reported to House (Amended) by House Committee on Energy and Commerce. Report No: 98-355.
Aug 3, 1983
Ordered to be Reported as Amended by the Subcommittee.
Aug 3, 1983
Committee Consideration and Mark-up Session Held.
Jul 27, 1983
Forwarded by Subcommittee to Full Committee (Amended).
Jul 27, 1983
Subcommittee Consideration and Mark-up Session Held.
Apr 13, 1983
Subcommittee Hearings Held.
Feb 2, 1983
Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.
Jan 6, 1983
Referred to House Committee on Energy and Commerce.
Jan 6, 1983
Introduced in House
 Plain-English summary Congressional Research Service
(Reported to House from the Committee on Energy and Commerce with amendment, H. Rept. 98-355)

Insider Trading Sanctions Act of 1983 - Amends the Securities Exchange Act of 1934 to permit the Securities and Exchange Commission, whenever it appears that any person has traded in securities while in possession of material nonpublic information, to seek an order in a district court action requiring the violator, or anyone who aided and abetted the violation, to pay a civil penalty of up to three times the profit gained or loss avoided as a result of the unlawful transaction.

Permits the Commission, if such person fails to pay such penalty, to refer the matter to the Attorney General who may recover such penalty by action in the appropriate United States District Court.

States that no person shall be subject to such sanction: (1) solely because that person aided and abetted a prohibited transaction in a manner other than by communicating material nonpublic information; or (2) solely by reason of employing another liable person.

Prohibits any action from being brought under this Act more than five years after the date of the purchase or sale.

Increases from $10,000 to $100,000 the maximum criminal fine that may be imposed on persons, other than exchanges, who willfully violate the Securities Exchange Act of 1934.

What's happening now August 10, 1984

Became Public Law No: 98-376.

 Committees of jurisdiction 4
 Cosponsors 1
All 1 Democratic 1