ban congressional stock trading act Afegames trading

These days, stock market trading has been rocked by a series of scandals and controversies, most notable of which is the 2020 congressional insider trading scandal. The incident refers to allegations of congressional stock trading based on nonpublic information about the coronavirus pandemic. Established in 2012, the Stop Trading on Congressional Knowledge (STOCK) Act prohibits insider trading by members of Congress and their employees, but it appears that not all of those involved are heeding this law.

Man in suit looking serious with a graph showning stock prices in front of himThe STOCK Act

The STOCK Act is legislation that was signed into law in 2012. It is designed to prevent members of Congress and their staff from making trades based on nonpublic information or the personal benefits they might gain from the information. It makes it illegal for those individuals to buy or sell stocks, bonds, or commodities based on any information that they possess that is not available to the public. By using such information, they can increase their profits to the detriment of other investors. It also bans members of Congress or their staff from being part of a “political intelligence” firm.

2020 Insider Trading ScandalPie chart showing various stock market players and the percentage of their insider trading

The 2020 congressional insider trading scandal began when reports surfaced that members of Congress had made trades based on nonpublic information they had obtained about the coronavirus pandemic. Trades were made in industries that were likely to be impacted by the pandemic and some may have even been made before the crisis was officially declared. The Department of Justice and the SEC began investigations into whether or not those involved had violated the STOCK Act, but so far no charges have been made.

The controversy is particularly acute because it calls into question the trustworthiness of our public officials. It’s hard enough for investors to trust the stock market under normal circumstances, let alone when there is the chance that individuals in positions of power are taking advantage of their insider knowledge. This scandal has caused many average investors to take a more cautious approach.

The biggest takeaway from this scandal is that it’s not just individual traders who need to be aware of potential insider trading. Everyone, including those in positions of power, must be held accountable for the choices they make. All investors should remain vigilant and not be too quick to jump on investment opportunities, as there may be unseen risks involved.

The 2020 congressional insider trading scandal has been a stark reminder of the importance of playing by the rules in the stock market. Whether it’s an individual investor or a Congressman, everyone has a responsibility to adhere to the regulations set by the STOCK Act. It’s only fair that everyone has equal access to information and an equal chance to make money on the stock market.

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Senate Ready for Insider-Trading Ban

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Congressional Stock Trading During Pandemic Diminishes Public Trust

Congressional Stock Trading During Pandemic Diminishes Public Trust

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Sen. Ossoff Wants To Ban Members Of Congress From Trading Stock While

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Pin on What's in the news

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Despite Past Congressional Action On Insider Trading, Senators' Stock

Despite past Congressional action on insider trading, Senators' stock

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U.S. House Passes Insider Trading Ban On Lawmakers – The Globe And Mail

U.S. House passes insider trading ban on lawmakers - The Globe and Mail

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Proposal 2: Congressional Insider Trading And The STOCK Act | Business

Proposal 2: Congressional Insider Trading and The STOCK Act | Business

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Pelosi Buckles, Pushes Stock-trading Ban

Pelosi buckles, pushes stock-trading ban

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What Is The Stop Trading On Congressional Knowledge (STOCK) Act

What is the Stop Trading on Congressional Knowledge (STOCK) Act

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Time to stop stock trading by US Congress representatives – afegames

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Ban Congressional insider trading?

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2020 Congressional Insider Trading Scandal: A Stock Analysts’ Perspective

2020 congressional insider trading scandal: A stock analysts’ perspective

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This Act May Be Cited As The ‘‘Stop Trading On Congressional Knowledge

This Act may be cited as the ‘‘Stop Trading on Congressional Knowledge

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Insider Trading Ban: Congress Really Wants You to Like Them

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Multiple Senators Accused Of Insider Trading & Selling Off Millions In

Multiple Senators Accused Of Insider Trading & Selling Off Millions In

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Most Voters of All Parties Support Congressional Stock Trading Restrictions

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How to Profit from Congressional Insider Trading

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The STOCK Act, Explained: An Insider Trading Ban For Members Of

The STOCK Act, Explained: An Insider Trading Ban For Members Of

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STOCK Act to Stop Congressional Insider Trading Signed into Law by

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CNN exclusive: Congressional insider trading ban might not apply to

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STOCK ACT to stop insider trading – CNN Political Ticker - CNN.com Blogs

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Ban Insider Trading Act of 2015 (2015; 114th Congress H.R. 1097

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STOCK Act Loophole: Congressional Insider Trading Ban Might Not Apply

STOCK Act Loophole: Congressional Insider Trading Ban Might Not Apply

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SIGN ON: Ban Stock Trading In Congress | Progressive Change Campaign

SIGN ON: Ban stock trading in Congress | Progressive Change Campaign

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Insider trading ban passes Congress with 96-3 vote | The World from PRX

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Insider Trading and Politics: Profiting Politicians... - Smart Start Money

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NEW STAND UP AMERICA POLL: NEARLY 80% OF AMERICANS SUPPORT LEGISLATION

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