Insider Trading by Congress
Pros and Cons
Video exploring critical thinking and how it leads to great citizen involvement
Should Insider Trading by Congress Be Allowed?
Insider Trading by Congress
ARCHIVED WEBSITE: We have not posted new data since Apr. 18, 2012 because on Apr. 4, 2012 President Obama signed the Stop Trading on Congressional Knowledge (STOCK) Act which explicitly prohibited members of Congress from buying or selling securities based on information gained on the job.
     

The Stop Trading on Congressional Knowledge (STOCK) Act intended to prohibit members of Congress from buying or selling securities based on information gained on the job, but the bill died in House committee three times (2006, 2007, 2009) with only a few sponsors. On Nov. 13, 2011, 60 Minutes reported that several members of Congress allegedly used insider information for personal gain, and the STOCK Act received 84 additional House co-sponsors within five days. On Apr. 4, 2012, the STOCK Act was signed into law by President Obama.

Proponents contend that regulating insider trading is inefficient, would be impossible to implement in Congress, and could harm the flow of information between Capitol Hill and the public. Opponents contend that congressional insider trading allows for unethical profiteering and conflicts of interest and that government officials should be held to the same standards as all other Americans. Read more…

Overview
Core Question
Did You Know?
Historical Timeline
Comments


ARCHIVED WEBSITE: No new data posted since Apr. 18, 2012.
On Apr. 18, 2012 we archived this site – meaning we will likely no longer make any updates to it. The site was archived because on Apr. 4, 2012 President Obama signed the Stop Trading on Congressional Knowledge (STOCK) Act which explicitly prohibited members of Congress from buying or selling securities based on information gained on the job. The site will remain accessible so that our readers can continue to benefit from the information it provides. If something materially significant occurs on this subject, we may update or even "unarchive” the site. For a list of all our websites, please visit www.procon.org.

Insider Trading ProCon.org is a nonpartisan, nonprofit website that presents research, studies, and pro and con statements on questions related to insider trading by congress.

Pros & Cons by Category
CORE QUESTION
Defining Insider Trading
Insider Trading Law and Regulation
Legal Loophole for Congressional Insider Trading
The STOCK Act
Congressional Representatives' Stock Performance
Financial Disclosure
Political Intelligence
Insider Trading and the Market
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Last updated on 6/6/2013 3:27:33 PM PST

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