Bice Supports Legislation to Stop Insider Trading

Washington D.C.- Today, the House passed the Stop Insider Trading Act, legislation to strengthen transparency and accountability in Congress. This legislation prohibits Members of Congress, their spouses, and their dependent children from purchasing individual stocks and establishes additional public disclosure requirements for stock sales.

Congresswoman Bice issued the following statement:

“I was proud to be an original co-sponsor of the Stop Insider Trading Act. The American people deserve to know their elected officials are serving the public, not their own financial interests. Members of Congress should be held to the highest standards of transparency and accountability, and this legislation is an important step toward restoring trust in Congress.”

Bill Summary:

The Stop Insider Trading Act would:

• Ban Members of Congress, their spouses, and their dependent children from purchasing securities issued by publicly traded companies.
• Require Members of Congress to file a public notice with the Clerk of the House or the Secretary of the Senate at least 7 days, but no more than 14 days before any intended stock sale.
• Require the House Ethics Committee to assess a penalty equal to the greater value of $2,000 or 10% of the covered investment

Contact: Wesley Harkins

Phone: (202) 225-2132