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This morning, President Obama signed the Stop Trading on Congressional Knowledge (STOCK) Act into law and League Executive Director Nancy Tate got the opportunity to stand with the President as he did so. The STOCK Act makes it illegal for Members of Congress to invest or trade stocks based on nonpublic information they acquire on Capitol Hill.
The STOCK Act was first introduced in 2006 by Representative Louise Slaughter (NY) and the President called for its passage during his 2012 State of the Union speech. The League believes that this new law is a strong step in the right direction of strengthening ethics laws as they apply to Members of Congress and their staff. It also works to provide a fair playing field for all Americans and provides transparency in the financial disclosure process.