Bill > S4134

This bill, titled the "Stop Insider Trading Act," aims to restrict stock trading by Members of Congress and their immediate family members, referred to as "covered individuals." It prohibits these individuals from purchasing "covered investments," which include securities from publicly traded companies and related financial instruments, with certain exceptions like diversified investment funds or assets held in trusts where the Member has no influence. Furthermore, before selling a covered investment, a Member of Congress must publicly disclose their intent to sell at least seven days in advance, with this notice being publicly available. While spouses and dependent children have some exceptions, such as transactions for others or as part of their employment, the bill establishes penalties for violations, including a fee calculated as the greater of $2,000 or 10% of the transaction value, plus any profits made, and requires the sale of illegally purchased investments. These fees cannot be paid using official congressional office funds or campaign contributions, and any collected fees will go to the U.S. Treasury.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/4134/all-info