Financial Planning > Behavioral Finance

House Ready to Consider Senate-Passed Ban on Insider Trading by Lawmakers, Administration (Washington Post)

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Legislation that would ban insider trading by lawmakers and thousands of executive branch officials passed almost unanimously in the Senate, sailing through on a 96-3 vote. In his recent State of the Union address, President Obama encouraged the House to pass the bill just as quickly, saying he would sign the bill immediately once it arrived on his desk. Among other provisions, the proposed law would require disclosure of all residential mortgages and would initiate a 30-day online reporting mandate, requiring the Senate to join the House in posting members’ annual financial disclosure statements online instead of making only paper copies available on request.