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STOCK Act (Public Law 112-105)
The Stop Trading on Congressional Knowledge Act of 2012, signed on 4 April 2012: members and staff are not exempt from insider-trading rules, and trades must be reported within 45 days.
- Dates
- 4 Apr 2012
- Also known as
- Stop Trading on Congressional Knowledge Act, STOCK Act
Connections 4
enacted by
- Barack Obama 4 Apr 2012 Primary record 12
led to
- Periodic transaction report Primary record 2
followed from
-
Insiders (60 Minutes)
According to CBS News
Scholarship & press
34
CBS’s own account. Other causes of the law are not shown here.
adopted by
- U.S. Congress 2012 Primary record 2
Timeline 3 dates
- 2012 U.S. Congress adopted STOCK Act (Public Law 112-105)
- 4 Apr 2012 STOCK Act (Public Law 112-105)
- 4 Apr 2012 Barack Obama signed into law STOCK Act (Public Law 112-105)
Proof 4 sources
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Remarks by the President at STOCK Act Bill Signing, The White House (Obama administration archive), 4 Apr 2012.
Primary record
So I'm very proud to sign this bill into law.
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Public Law 112-105: Stop Trading on Congressional Knowledge Act of 2012, U.S. Congress, 4 Apr 2012.
Primary record
Approved April 4, 2012.
Not later than 30 days after receiving notification of any transaction required to be reported under section 102(a)(5)(B), but in no case later than 45 days after such transaction
Members of Congress and employees of Congress are not exempt from the insider trading prohibitions arising under the securities laws
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Insiders: The road to the STOCK act, CBS News, 2012.
Scholarship & press
When we first broadcast this story in November it was legal for members of Congress to trade stock based on non-public information gathered during the course of their duties -- this story would change that.
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Congress: Trading stock on inside information? (script of “Insiders”, 60 Minutes), CBS News, 13 Nov 2011.
Scholarship & press
But now, at least 93 members of Congress have signed on as cosponsors of the Stock Act, and for the first time the bill has been introduced in the Senate.
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