Huffpost Politics

STOCK Act Loophole: Congressional Insider Trading Ban Might Not Apply To Lawmakers' Families

Posted: Updated:
STOCK ACT LOOPHOLE
Representative Brian Baird (D-Wash.) gestures to a diagram of how congressional inside trading works during a news conference on Capitol Hill May 16, 2007 in Washington, DC. (File photo by Brendan Smialowski/Getty Images) | File/Getty Images

www.cnn.com:

Lawmakers proclaimed that the bill, officially called the Stop Trading on Congressional Knowledge Act, would restore trust in government. It also applied new rules to some employees of the executive branch.

But CNN uncovered that the law that members of Congress thought they voted for earlier this year isn't exactly as advertised. A loophole could still allow family members of some lawmakers to profit from inside information.

Read the whole story at www.cnn.com

Around the Web

STOCK Act's expansive jurisdiction could lead to abuse of power ...

Robert Weissman: Eric Cantor's Wall Street Insider Trading Loophole