A bill to amend the Securities Exchange Act of 1934 to prohibit certain securities trading and related communications by those who possess material, nonpublic information, and for other purposes.
Bill Summary
Prohibits people with access to secret, important information from trading certain securities or sharing that information with others. Requires them to keep this information confidential to prevent unfair trading advantages.
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- TBD
The full chamber debates the bill, may amend it, and votes on whether to pass it.
- TBD
If passed by the first chamber, the other chamber considers, may amend, and votes on the bill.
- TBD
If passed by both chambers, the bill goes to the President to sign into law or veto.
Why It Matters
This bill affects individuals with access to material, nonpublic information, such as corporate insiders or government officials, by restricting their ability to trade securities or communicate sensitive information. It also impacts investors by aiming to create a more level playing field in the securities market.