The Congressional STOCK Act

Prior to 2012, there was No Law making it Illegal for Members of Congress to Trade Stock based on private Information obtained on Capitol Hill. As Private Citizens, this Behavior would be Labeled “Insider Trading”, likely Accompanied by Stiff Fines and Potential Jail Time.

Members of Congress weren’t Required to Disclose their Financial Transactions in Real-Time.

Now, when you Buy or Sell a Stock that’s worth more than $1,000, you have to Disclose that Purchase or Sale within a much Shorter Window.

In 2012, Congress Passed the STOCK Act, which forced Transparency in Congress' Financial Transactions and made sure it was Illegal for Members of Congress, their Families, and their Staff to Profit from Insider Information gained through Public Service.

Stop Trading On Congressional Knowledge (STOCK) Act

- Prohibits Members of Congress, their Staff, and their Families from using Private Information, acquired through their Official Positions, for Personal Benefit, such as Buying or Selling Stocks after Receiving Non-Public Information about the Impending Coronavirus Pandemic.

- Requires every Member of Congress to Publicly File and Disclose any Financial Transaction of Stocks, Bonds, and Commodities Futures, on their Website within 30 days of the Transaction so that Abuses can more Easily, and Quickly, come to light.

The STOCK Act is as much a Deterrent as it is a Vehicle for Prosecution, and since its Passage, No Member of Congress has been Prosecuted under the Law.

The way the Laws were Written and Interpreted meant that there was No Transparency to determine whether Public Officials were using Inside Information to make Personal Profit.

The STOCK Act’s Passage has proven especially prescient over the Past Few months, as Reports of Members of Congress Insider Trading and Profiteering Off of Non-Public Information related to the Coronavirus Pandemic have emerged.

Now, many believes that there should be a Prohibition on Members of Congress and the Administration Owning Stocks they Directly Control. Members of Congress are Privy to Enormous Amounts of Classified and Non-Public Information. It’s part of how they’re able to Effectively Legislate.










NYC Wins When Everyone Can Vote! Michael H. Drucker