Stop Trading on Congressional Knowledge Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D BairdSponsor

14 cosponsors · 12 D, 2 R

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

What it does: CRS summary · Introduced in House · Mar 28, 2006

Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodities Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) to prohibit a person from buying or selling securities while in possession of related material nonpublic information regarding legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress; or (2) by reason of being a Member or employee of Congress.

Directs the SEC and the CFTC to prohibit any Member or employee of Congress, or any other person, from disclosing material nonpublic information regarding legislative action relating to any issuer if that Member, employee, or other person has reason to believe that the information will be used to buy or sell the securities of such issuer based on that information.

Amends the Ethics in Government Act of 1978 to require formal disclosure of certain securities transactions to the Clerk of the House of Representatives or the Secretary of the Senate.

Amends the Lobbying Disclosure Act of 1995 to subject to its registration, reporting, and disclosure requirements political intelligence activities, contacts, firms, and consultants.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Stop Trading on Congressional Knowledge Act

Latest action (Mar 28, 2006): Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Policy area: Congress · Origin: House · Introduced: Mar 28, 2006

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.