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Banning Stock Trading for Members of Congress and Their Spouses

This new bill aims to prohibit U.S. Members of Congress and their spouses from buying, selling, or holding stocks and other financial instruments. The goal is to prevent the use of privileged information for personal financial gain. Citizens can expect increased transparency and trust in their representatives' actions.
Key points
Members of Congress and their spouses are prohibited from trading or holding most financial instruments.
Exceptions include diversified mutual funds, diversified exchange-traded funds, U.S. Treasury bills, and assets held in qualified blind trusts.
Penalties for violations include disgorgement of profits, disallowing tax deductions for losses, and civil fines.
Members must annually certify compliance, and these certifications will be publicly available.
An independent audit will be conducted to ensure compliance with the new rules.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_6490
Sponsor: Rep. Hartzler, Vicky [R-MO-4]
Process start date: 2022-01-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Banning Insider Trading in Congress Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6490.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-01-25.

What are the main provisions?

Key points include:

  • Members of Congress and their spouses are prohibited from trading or holding most financial instruments.
  • Exceptions include diversified mutual funds, diversified exchange-traded funds, U.S. Treasury bills, and assets held in qualified blind trusts.
  • Penalties for violations include disgorgement of profits, disallowing tax deductions for losses, and civil fines.
  • Members must annually certify compliance, and these certifications will be publicly available.
  • An independent audit will be conducted to ensure compliance with the new rules.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Hartzler, Vicky [R-MO-4].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Courts and Law Economy