Tougher Insider Trading Rules for Lawmakers Advance in Congress
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The House plans next week to consider a Senate-passed plan to bar members of Congress, their staff and other executive branch workers from trading stocks, commodities or futures based on non-public information they learn on the job.
The bill, approved 96-3 by the Senate yesterday, would require those people and workers in independent federal agencies to report any trades of $1,000 or more within 30 days. The requirement would cover about 300,000 employees, said independent Senator Joe Lieberman of Connecticut. The disclosure rule wouldn’t apply to widely held investment funds.