House Clears Insider Trading Bill

Feb 9, 2012

House Administration Chairman Dan Lungren Applauds House Passage of Insider Trading Bill; Says House Amendments Strengthen Senate Bill

WASHINGTON – Today, after House passage of the STOCK Act (S. 2038), Committee on House Administration Chairman Dan Lungren, R-Calif., issued the following statement:

“I commend the efforts made to strengthen this legislation and move it forward in the House.  The reassertion that all branches of government must follow the same insider trading prohibitions as the general public is vital to maintaining public confidence in government. 

“Although we create the laws of the land, we are not above them. As civil servants, it is crucial for Members of Congress to uphold public trust, and I believe this law – through its expansion of financial disclosure requirements – will serve to bolster that confidence.  I thank my colleagues from both sides of the aisle for their support, and I look forward swift implementation in the House.”