Senate passes insider-trading bill
The bill states that insider trading is criminal and requires public disclosure online of any trades within 30 days of a transaction. It was aimed initially just at Capitol Hill. However, Republicans clamored for the inclusion of executive-branch employees.
“The same standards should apply to the White House and the executive agencies that spend hundreds of billions of dollars at the president’s direction,” said Senate Minority Leader Mitch McConnell, R-Kentucky.
Obama, referring to his State of the Union address, said in a statement: “Last week, I called on Congress to pass a bill that makes clear that Members of Congress may not engage in insider trading. … So I’m pleased the Senate took bipartisan action to pass the STOCK Act. I urge the House of Representatives to pass this bill, and I will sign it right away.”
