Bill > S02029

This bill enacts the "New York Stock Act," which establishes comprehensive ethics guidelines prohibiting public officials from using nonpublic information obtained through their official positions for personal financial gain. The legislation applies to members of the legislature, executive branch employees, judicial officers, and judicial employees, defining each category in detail. The bill requires the Legislative Ethics Commission, the Commission on Ethics and Lobbying in Government, and the Advisory Committee on Judicial Ethics to issue interpretive guidance clarifying that these officials may not exploit confidential information for private profit. It specifically addresses insider trading by establishing that these public servants owe a duty of trust and confidence to the state and its citizens regarding material nonpublic information. The bill also restricts public officials from participating in initial public offerings (IPOs) in ways not available to the general public. Importantly, the legislation includes a rule of construction that ensures it does not impair existing securities laws, diminish the officials' core responsibilities, or override existing ethical obligations. The act is designed to enhance transparency, prevent conflicts of interest, and maintain public trust in government institutions.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S2029