PELOSI Act to Stop Insider Trading by Members of Congress
Sen. Josh Hawley has reintroduced the PELOSI Act to ban members of Congress and their family members from trading or holding stocks to prevent insider trading. The bill promotes transparency and prohibits trading individual stocks, with strict disclosure requirements and penalties for violators.
Key Points
- PELOSI Act reintroduced by Sen. Josh Hawley to ban members of Congress from trading individual stocks
- Promotes transparency and prohibits insider trading
- Strict disclosure requirements and penalties for violators included in the bill
- Pelosi and other lawmakers have made significant wealth through stock trading while in office
Pros
- Promotes transparency in government
- Prevents members of Congress from using insider knowledge for personal gain
- Enforces strict disclosure requirements and penalties for violators
Cons
- Has faced challenges in becoming law in previous attempts
- Requires bipartisan support to pass