#STOCKAct To Bar Congressional Insider Trading Gains Support

Over the past few weeks, we have talked a great deal about the proposed law to bar insider trading by members of Congress and their staffs. While recognizing that the bill was not perfect, and that academics and others were very critical, we believed that getting the bill introduced and into hearings, both of which has occurred, would lead to appropriate amendments and the adoption of an effective and meaningful bill. It looks as if the bill has been amended to deal with some of the significant criticisms that had been leveled against the prior versions. Now, in fact, Law Professor Stephen Bainbridge, who had been highly critical of the bill, says that the amended bill is “simple, effective, comprehensive, and workable.” 

That means that the next step is adoption of the bill by Congress. Will it happen? Stay tuned.