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United States · Bill · S

S. 1903 (112th)

Stop Trading on Congressional Knowledge Act

openUnited States· United States Congress· EN

Introduced

17 November 2011

Last action

1 December 2011 · Committee

Status

Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 112-344.

Sponsors

Kirsten Gillibrand, Sen. Tester, Jon [D-MT], Sen. Stabenow, Debbie [D-MI], Richard Durbin, Sen. McCaskill, Claire [D-MO], Amy Klobuchar, Sen. Rubio, Marco [R-FL], Richard Blumenthal, John Reed, Rep. Snowe, Olympia J. [R-ME-2], Rep. Nelson, Bill [D-FL-11], Rep. Cardin, Benjamin L. [D-MD-3], Sen. Kerry, John F. [D-MA], Sen. Brown, Sherrod [D-OH], Rep. Baucus, Max [D-MT-1], Sen. Johanns, Mike [R-NE], Sen. Feinstein, Dianne [D-CA], Bernie Sanders, Sheldon Whitehouse, Sen. Casey, Robert P., Jr. [D-PA], Rep. Boxer, Barbara [D-CA-6], John Thune, Sen. Hagan, Kay R. [D-NC], Sen. Menendez, Robert [D-NJ], Rep. Harkin, Tom [D-IA-5], Rep. Johnson, Tim [D-SD-At Large], Sen. Lautenberg, Frank R. [D-NJ], Sen. Mikulski, Barbara A. [D-MD], Sen. Kohl, Herb [D-WI], Sen. Leahy, Patrick J. [D-VT]

Subjects

Discovery layer

Source updated

6 December 2025

Official sourceDownload fileView documentsShare

Summary

Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress, (2) by reason of being a Member or employee of Congress, or (3) from other federal employees and derived from their federal employment. Makes it an element of the prohibited activity, also, that the Member or employee of Congress or the federal employee acted with the intent to assist another person, directly or indirectly, to use the information to buy or sell the securities of such publicly traded company based on such information. Amends the Standing Rules of the Senate to prohibit a Member, officer, or employee of the Senate from disclosing material nonpublic information relating to any pending or prospective legislative action relating to any publicly-traded company or to any commodity if such person acts with intent to assist another person, directly or indirectly, to use the information to buy or sell the securities of that publicly traded company based on such information. Amends the Ethics in Government Act of 1978 to require formal disclosure of certain securities and commodities futures transactions to either the Clerk of the House of Representatives or the Secretary of the Senate. Amends the Lobbying Disclosure Act of 1995 to subject to its registration, reporting, and disclosure requirements, as well as requirements for identification of clients and covered legislative and executive officials, all political intelligence activities, contacts, firms, and consultants. Requires the Comptroller General to include political intelligence activities, contacts, firms, and consultants in its annual compliance audits and reports.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 17 November 2011

    Introduced

    Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

    Source: IntroReferral

  2. 17 November 2011

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 1 December 2011

    Committee

    Committee on Homeland Security and Governmental Affairs. Hearings held. Hearings printed: S.Hrg. 112-344.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Sponsors

Related records

Sources

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