summary
Introduced
04/04/2022
04/04/2022
In Committee
04/04/2022
04/04/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Securities Exchange Act of 1934 to prohibit certain securities trading and related communications by those who possess material, nonpublic information, and for other purposes.
AI Summary
This bill amends the Securities Exchange Act of 1934 to prohibit certain securities trading and related communications by those who possess material, nonpublic information. Specifically, it makes it unlawful for a person to trade securities or communicate material, nonpublic information if they obtained the information through wrongful means, such as theft, conversion, or breach of fiduciary duty. The bill also provides certain affirmative defenses, such as for transactions that comply with the existing Rule 10b5-1, and clarifies that the rights and remedies provided are in addition to other existing legal rights and remedies.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Senate Banking, Housing, and Urban Affairs Hearing (10:00 7/28/2022 SD-538) (on 07/28/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/3990/all-info |
| BillText | https://www.congress.gov/117/bills/s3990/BILLS-117s3990is.pdf |
| Bill | https://www.congress.gov/117/bills/s3990/BILLS-117s3990is.pdf.pdf |
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