Feb 09 2012

Chuck Fleischmann votes to ban insider trading by Members of Congress

WASHINGTON, D.C. – Congressman Chuck Fleischmann voted for the STOCK Act, which bans insider trading by Members of Congress.

“One thing I wanted to change when I ran for Congress was a system where out of touch elected officials set different rules for themselves than for the majority of Americans. Serving the people of the United States is a privilege and an honor. When Members of Congress abuse that privilege, they betray the trust that has been placed in them. While I have never – and would never – trade stocks on non-public information, it was important for Congress to take aggressive action and pass this bill to ensure the public trust. By providing transparency and banning insider trading, it is my hope that Congress can assure the American people that equality before the law applies to everyone,” Fleischmann said.

The STOCK Act makes important changes to current law. It explicitly bans trading on non-public information, and requires Members of Congress and Senators to file timely disclosures to the public about all trades that they make. By disclosing trades, the public will be able to see for themselves exactly where their elected representatives financial interests lie.

 

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