Stopping Washington Insider Trading
This week I was proud to cosponsor the bipartisan Stop Trading on Congressional Knowledge (STOCK) act. This legislation prohibits members of Congress from engaging in insider trading based upon knowledge gained in their role as a Senator or House member.
I was troubled by media reports about Members of Congress exploiting their positions for personal gain. The STOCK act would create more accountability and transparency holding those who engaged in such unethical practices responsible by empowering the Securities and Exchange Commission and Department of Justice to prosecute cases of insider trading by members of Congress. Additionally, this legislation would demand “political intelligence consultants” to register as lobbyists.
Members of Congress should serve their country and constituents, and fight abuses like insider trading. This measure will help hold wrongdoers accountable.