After a revealing report by CBS "60 Minutes” aired at the end of last year, possible insider trading by Members of Congress has come under strong scrutiny. Under current law, Members of Congress and their staff do not owe a duty of confidentiality to the federal government, and therefore are not liable for insider trading. However, recent reports suggest sharing of nonpublic congressional information occurs regularly. The report noted circumstances where Members of Congress may have used their political status and access to nonpublic information to profit from buying and selling stock. Yesterday by a vote of 93-2, the Senate agreed to proceed to move to debate on the Stop Trading on Congressional Knowledge (STOCK) Act, a bill I am cosponsoring in the House of Representatives. The STOCK Act is a bipartisan solution that would prohibit Members of Congress and federal employees from profiting from nonpublic information they obtain via their official positions. It also requires Members and employees of Congress to report the purchase, sale, or exchange of any stock, bond, or commodity future transaction in excess of $1,000 within 90 days. More information about the legislation is available here.
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ICYMI my op ed in @TheNatlInterest lays out why preserving our Carrier Air Wings is critical for national security https://t.co/A0FdmWvnbe
RT @ACUConservative: Chairman @mschlapp awards @Randy_Forbes with the 2015 Award for
Conservative Excellence. #ACURatings https://t.co/lVEj…
Rep @Randy_Forbes wants to keep #Navy ship repair work closer to home. #VaPolitics https://t.co/CxRWDLFlvG
Happy #Easter to you and your loved ones. https://t.co/ddY17G18zs
RT @RepublicanStudy: MUST READ: @Randy_Forbes on the Navy's critical importance in preserving peace: https://t.co/gc8W1DSoLv