WSJ: U.S. Republicans Introduce "Stop Insider Trading Act" Proposal

BlockBeats News, January 12th, according to The Wall Street Journal, House Republicans, including the party leadership, are jointly supporting a stock trading restriction bill, seeing it as the best solution to long-standing concerns about lawmakers potentially profiting from insider information. The bill, aimed at prohibiting members of Congress from trading individual stocks, was drafted by House Administration Committee Chair and Wisconsin Republican Congressman Bryan Steil. The bill has received support from House Republican leadership and has garnered approval from various factions within the Republican Party. The proposal, named the "Ban on Insider Trading Act," is scheduled to be formally introduced on Monday.

However, under the plan, while members of Congress will be prohibited from purchasing individual stocks, they will still be allowed to trade in diversified mutual funds.