US Rep Bass Statement on STOCK Act Being Signed Into Law

WASHINGTON – Congressman Charles F. Bass (NH-02) today applauded the President’s signing of legislation that would, among other things, reaffirm that Members and their staff are already subject to current insider trading laws and prohibit Members of Congress and Congressional staff from buying or selling securities, swaps, or commodity futures based on nonpublic information related to Congressional business.

Bass was a cosponsor of the House version of the Stop Trading on Congressional Knowledge (STOCK) Act (H.R. 1148).

Bass said:

“As a cosponsor of the bipartisan STOCK Act, I am pleased that the President has signed this important disclosure and transparency bill into law.  The public should have full confidence that Members of Congress and their staff are adhering to the highest of ethical standards at all times.  I look forward to continuing to work with my colleagues in a bipartisan fashion to ensure the public trust in our public institutions.”

The STOCK Act also requires more timely disclosure of financial transactions above $1,000 for those Members and staff that are already required to file annual financial disclosures.