Obama Backs Insider Trading Ban For Lawmakers

Law360, New York (January 25, 2012, 1:35 PM EST) -- In his State of the Union address Tuesday, President Barack Obama threw his weight behind efforts to bar members of Congress from trading on inside information gleaned from the legislative process, saying he would sign such a bill immediately.

Saying that allegations of insider trading by lawmakers contributed to a “divide between [Washington] and the rest of the country,” the president vowed to sign legislation that is currently stalled in Congress that would also increase disclosures that members would be required to provide on their trading...
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