Insider Trading Prohibition Act
Summary
Insider Trading Prohibition Act
This bill generally provides statutory authority for the prohibition against securities trading, as well as related communications to others, by a person who has access to material, nonpublic information and is aware or recklessly disregards that the information is material and nonpublic. Further, that person must either be aware or recklessly disregards that the information has been obtained wrongfully or that the trading would be wrongful.
The bill also provides, for purposes of establishing a violation of this prohibition, that it is not necessary for such a person to know specifically how such information was obtained or whether a personal benefit was paid or promised.
Timeline
- Jul 28, 2022Committee on Banking, Housing, and Urban Affairs. Hearings held.
- Apr 5, 2022Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
- Apr 4, 2022Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1937-1938)
- Apr 4, 2022Introduced in Senate
Cosponsors
- Sen. Menendez, Robert [D-NJ] D-NJ
In the News
- New Bill: Senator Tina Smith introduces S. 3990: PrEP Access and Coverage Act of 2026 - Quiver Quantitative
- After a light snow Sunday night, Monday begins bitterly cold week in Acadiana. Here’s the forecast. - The Advocate
- After Seila Law, Will Congress Change the CFPB’s Leadership Structure? - Consumer Finance Monitor
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