Perspective
Feb. 10, 2012
Insider trading in Congress: Taking the Stock Act seriously
The U.S. Senate and House move to ban insider trading by members of Congress. By Pamela J. Marple and Michael Pusateri of Chadbourne & Parke LLP
On Feb. 2, the U.S. Senate, by a vote of 97 to 3, passed a bill entitled the "Stop Trading on Congressional Knowledge Act" (Stock Act). The House is considering it actively: Tuesday evening, it circulated the first version of the Senate bill, adding amendments yesterday morning. The president has said he wants to sign it.
The bill's stated purpose is to stop members of Congress from pro...
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