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I don't think they will, but I do think they should.
by flyingfences 5y ago
I don't think they will, but I do think they should.
- slowmovintarget 5y agoI don't think they can. Current law in that respect does not apply to members of Congress, IIRC. Instead, Congress has decided that its members should: 1. Self-report on themselves, their spouses, their dependent children (why dependent children would be trading securities is beyond me, but OK.) 2. Be subject to a $200 fine for conflicts of interest or failure to report "in a timely manner" 3. Have the fine waived at the discretion of the House or Senate ethics committees In other words, the rules they've applied to themselves are toothless.
- gnopgnip 5y agoThe SEC can still pursue criminal charges
- zrail 5y agoThe SEC is not a law enforcement agency. They can and do partner with the FBI but there's a separation of powers problem with that.
- bcrosby95 5y agoCriminal charges for what exactly? The SEC exists by authority of Congress, and their purview is defined by Congress, just like every other regulatory body.
- sgent 5y agoThe SEC even in overt insider trading cases doesn't pursue criminal charges -- they refer it to the Justice Department. Congress currently is exempt from insider trading that comes about due to executing congressional duties. They would have to pass a law subjecting themselves to it.
- dragonwriter 5y ago> The SEC can still pursue criminal charges The SEC can refer apparent criminal violations to the Department of Justice, which is the only federal agency which can pursue criminal charges.