Bill Targets Insider Trading By Government Officials

Law360, New York (January 27, 2009, 12:00 AM EST) -- Hoping to extend the concept of insider trading to government employees in possession of nonpublic information, lawmakers have introduced a bill in the U.S. House of Representatives that would make it illegal for federal officials and their staff to trade on such information gained in their employment.

On Monday night, Reps. Louise Slaughter, D-N.Y., and Brian Baird, D-Wash., introduced the Stop Trading on Congressional Knowledge, or STOCK, Act. The bill was also sponsored by Rep. Tim Walz, D-Minn., according to legislative records.

“Members of Congress and...
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