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Ban on Stock Trading for Congress Members and Spouses

This new law aims to prevent the misuse of confidential information by members of Congress and their spouses. It prohibits the buying and selling of most financial instruments to increase public trust in government. Citizens can expect greater transparency in the actions of their representatives.
Key points
Members of Congress and their spouses will be prohibited from buying or selling most stocks and other financial instruments.
The ban does not include U.S. Treasury bills, notes, or bonds, exchange-traded funds (ETFs), mutual funds, or government employee retirement plans.
Financial penalties for violations are introduced, amounting to at least $25,000 or the value of the transaction.
The supervising ethics office will annually publish compliance certificates, increasing transparency.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_6141
Sponsor: Rep. Fallon, Pat [R-TX-4]
Process start date: 2023-11-01
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

Insider Trading Prevention Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6141.

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 2023-11-01.

What are the main provisions?

Key points include:

  • Members of Congress and their spouses will be prohibited from buying or selling most stocks and other financial instruments.
  • The ban does not include U.S. Treasury bills, notes, or bonds, exchange-traded funds (ETFs), mutual funds, or government employee retirement plans.
  • Financial penalties for violations are introduced, amounting to at least $25,000 or the value of the transaction.
  • The supervising ethics office will annually publish compliance certificates, increasing transparency.
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. Fallon, Pat [R-TX-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on House Administration.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Courts and Law Economy