8 ms·
If you're curious, you can read the relevant laws yourself. I suggest you start with the STOCK act of 2012 (S. 2038, 126 Stat. 291, enacted April 4, 2012). This
by riotnrrd 3y ago
If you're curious, you can read the relevant laws yourself. I suggest you start with the STOCK act of 2012 (S. 2038, 126 Stat. 291, enacted April 4, 2012). This law prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. You can also follow up with the relevant SEC definitions of "non public information."
- junofan 3y agoIt’s a $200 fine for a failure to file. 10% penalty for prohibited trades. Enforcement is at ethics committee discretion. Those aren’t the rules normal people have to follow. Maybe people have a problem with that?
- kasey_junk 3y agoThose are _more_ rules than normal people have to follow. The whole point is there is no special exemption for Congress though people seem to think there is. Should there be even more strict rules for Congress than there are? Sure! But it’s not because they currently aren’t subject to insider laws.