Congressional Insider Trading Ban Gets SEC Support

Law360, New York (February 23, 2012, 3:08 PM EST) -- The chairwoman of the U.S. Securities and Exchange Commission said Wednesday that she supports legislation recently passed by the House and Senate that explicitly prohibits insider trading by members of Congress.

Mary Schapiro said at a breakfast Wednesday sponsored by the Christian Science Monitor that the Stop Trading on Congressional Knowledge Act — which passed both chambers of Congress by a landslide earlier this month — would be beneficial overall to the SEC's efforts to prevent insider trading.

“I think the STOCK Act can be helpful...
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