Stop Insider Trading Act

This bill would stop members of Congress, along with their spouses and dependent children, from buying stocks in publicly traded companies. If they want to sell stocks they already own, the member of Congress must publicly announce the planned sale 7 to 14 days ahead of time. Anyone who breaks these rules would have to pay a fee equal to the greater of $2,000 or 10% of the transaction's value, plus any profits they made, and that fee cannot be paid with campaign money or official congressional funds. Some types of investments are excluded from these rules, such as broad investment funds, and spouses and dependents get certain exceptions for transactions done as part of their job compensation or on behalf of someone else.

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