Senate Passes Ban On Insider Trading

Law360, New York (February 2, 2012, 7:02 PM EST) -- The U.S. Senate on Thursday passed a bill barring lawmakers, top aides and senior members of the executive branch from insider trading and requiring them to more frequently report financial transactions.

After tussling over a bevy of amendments that threatened to derail the otherwise popular measure, senators arrived at a version of the Stop Trading on Congressional Knowledge Act of 2012 that they were comfortable with, voting 96 to 3 to adopt it. Only Sens. Jeff Bingaman, D-N.M., Richard Burr, R-N.C., and Tom Coburn, R-Okla. opposed...
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