United States · Bill · HR
H.R. 1138 (118th)
Prohibit Insider Trading Act
Introduced
21 February 2023
Last action
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Status
Referred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sponsors
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Subjects
Discovery layer
Source updated
24 July 2024
Summary
Prohibiting Insider Trading Act This bill prohibits Members of Congress (or their spouses) from holding or trading certain investments (e.g., individual stocks and related financial instruments other than diversified investment funds, investments in the federal retirement savings plan, or U.S. Treasury securities). Generally, the prohibition applies seven days after the first day of a Member's initial term, though for current Members, it applies on the first day of the second session of the 118th Congress. Additionally, the prohibition does not apply to assets held in a qualified blind trust. Any profit stemming from a prohibited holding or transaction must be disgorged to the Treasury and may subject the Member to a civil fine. Additionally, a loss stemming from a prohibited holding or transaction may not be used as an income tax deduction. Each Member must submit an annual certification of compliance to the supervising ethics office. The office must publish each certification on a public website and periodically audit Members' compliance with the bill's provisions.
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Votes
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Versions
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 21 February 2023
Introduced in House (PDF)
Introduced in House · EN · 21 February 2023
Introduced in House
summary · EN · 21 February 2023
Sponsors
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Related records
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/118th-congress/house-bill/1138
- Open data entity: https://api.congress.gov/v3/bill/118/hr/1138