CONGRESSIONAL INSIDER TRADING LEGISLATION TO BE DEBATED AT 12/14 MARK-UP

WASHINGTON—The Senate Homeland Security and Governmental Affairs Committee, led by Chairman Joe Lieberman, ID-Conn., and Ranking Member Susan Collins, R-Me., will hold a full committee markup Wednesday, December 14, at 10:00 a.m., to debate legislation that would strengthen the laws prohibiting insider trading by members of Congress and their staffs.

The Chairman drafted compromise legislation based on S.1903 and S.1871, introduced in November by Senators Gillibrand and Scott Brown respectively, and the testimony of expert witnesses. 

“Perceptions are very important in public service,” Lieberman said.  “So, while Congress has not exempted itself from insider trading rules, there should be a law that explicitly deters such unethical, illegal behavior by members of Congress and punishes it when it happens. We have drafted compromise legislation that should pass both the Committee and Congress.”

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