Congress Backs Off Employee Financial Disclosure Rule

Law360, New York (April 12, 2013, 5:44 PM EDT) -- Congressional lawmakers on Friday substantially rolled back financial disclosure requirements that were scheduled to take effect Monday, freeing thousands of federal employees from a rule that civil liberties groups have criticized as an illegal invasion of privacy.

The Stop Trading on Congressional Knowledge Act, which was passed in April 2012, would have forced as many as 28,000 civil servants to disclose their financial holdings online. Both chambers of Congress approved by voice vote changes to law restricting it to the president, vice president, members of Congress,...
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