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House Overwhelmingly Approves STOCK Act

Statement

By:
Date:
Location: Washington, DC

On Thursday, the House took an important step to help restore the American public's trust in their government by passing the STOCK Act with near-unanimous support. While insider trading is already prohibited under the rules of the House of Representatives, the STOCK Act reaffirms that Members of Congress, executive branch, and judicial branch officials and their staffs are prohibited from using non-public information obtained through their work for private profit. It requires lawmakers, congressional officers, and senior legislative and executive branch employees to disclose certain stock sales and purchases no later than 45 days after the transaction was made. The measure also prohibits Members, executive branch officials and staffers from receiving preferential treatment in initial public offerings. Congressman Miller supported the passage of this measure to ensure that government officials are held to the same standards as all Americans.


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