All articles tagged with #stock trading ban
The House approved a budget-reconciliation framework that could fund efforts to push states toward anti-voting measures under the SAVE America Act, and separately passed the Stop Insider Trading Act to bar members of Congress from trading individual stocks (with a voter-ID rider); both face uncertain prospects in the Senate, and timing remains tight amid looming deadlines, Iran-war costs, and midterm campaigning.
The House passed the Stop Insider Trading Act 232-198, which would bar members of Congress from buying individual stocks while in office, while allowing them to keep existing holdings and to sell portions of their portfolios if they publicly disclose seven days before the sale; penalties for mis-disclosures would rise to at least $2,000 or 10% of the transaction value. The bill also adds a voter-ID requirement, drawing Democratic opposition, and its fate in the Senate remains unclear, with critics calling it a weak reform that falls short of a full ban.
A bipartisan group of House members has introduced legislation to ban lawmakers from trading individual stocks, requiring them to divest within 180 days and extending the ban to spouses and dependents, aiming to address concerns over insider trading and conflicts of interest in Congress.
Congress faces a complex September with a potential government shutdown, debates over Jeffrey Epstein files, stock trading bans for lawmakers, and expedited consideration of Trump's nominations, amidst internal divisions and looming deadlines.
Congress returns from recess facing a critical government funding deadline of September 30, with disputes over budget allocations, efforts to release Jeffrey Epstein files, proposals to ban stock trading by lawmakers, and potential changes to Senate rules to expedite Trump's nominees amid ongoing political tensions.
Treasury Secretary Scott Bessent advocates for banning individual stock trading by members of Congress, aligning with bipartisan efforts to improve congressional ethics and restore public trust amid ongoing debates and opposition within Congress.
President Donald Trump lashed out at Senator Josh Hawley on social media after Hawley's vote on a stock trading ban legislation, mistakenly believing it would negatively impact Trump and his business, leading to a misunderstanding that caused Trump's anger. Hawley defended his position, and the situation was later clarified, with Trump and Hawley reportedly reconciling.
Senator Josh Hawley defends his bill to ban stock trading among lawmakers amid criticism from President Trump, emphasizing that Trump is not covered by the bill. The legislation, previously called the PELOSI Act and now the HONEST Act, aims to increase transparency and reduce conflicts of interest in Congress.
Senator Josh Hawley supported a bill to ban stock trading for Congress members, gaining some bipartisan support, but faced criticism from within his party and from President Trump, who called him a 'pawn' for backing the legislation.
Senator Josh Hawley and Democrats in the Senate Committee on Homeland Security and Governmental Affairs advanced a bill that would ban members of Congress from buying, selling, or owning individual stocks, with some Republicans opposing the measure. The legislation aims to increase ethical standards and transparency among lawmakers, requiring them to sell their stocks within 180 days and submit annual compliance certifications. The bill has garnered mixed reactions, including support from Nancy Pelosi and criticism from President Trump.
Florida congresswoman Lois Frankel sold her First Republic stock on March 16 while the share price was tanking then purchased stocks in JPMorgan on March 22, weeks before it took over First Republic. The transactions are revealed in financial disclosures which say the value of the stocks in both instances was between $1,001 and $15,000. The revelations have placed renewed scrutiny on lawmakers over their trading. A bipartisan bill was introduced by Alexandria Ocasio-Cortez and Matt Gaetz to ban stock trading by members of Congress.
Several members of Congress or their close relatives sold bank equities last month as fears of a financial crisis spread in the wake of Silicon Valley Bank's collapse. The suspiciously well-timed transactions came a day after Sen. Jeff Merkley (D-Ore.) led a group of House and Senate members in introducing the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act, legislation that would prohibit members of Congress, their spouses, and their dependent children from trading individual stocks.