WSJ: US Republicans Submit Proposal for "Ban Insider Trading Act"

BlockBeats News, January 12, according to The Wall Street Journal, House Republicans, including the Republican leadership, are uniting to support a stock trading restriction bill, which they believe is the best solution to the long-standing issue of lawmakers potentially profiting from insider information. The bill, led by House Administration Committee Chairman and Wisconsin Republican Representative Bryan Steil, aims to prohibit members of both chambers of Congress from increasing their holdings of individual stocks. The bill has received support from the House Republican leadership and has gained recognition from various factions within the Republican Party. This proposal, called the "Prohibition of Insider Trading Act," is scheduled to be formally submitted on Monday.

However, according to the plan, while members of Congress will not be allowed to newly purchase individual stocks, they will still be permitted to buy and sell diversified investment funds.