The Senate has severely scaled back the Stock Act,
the law to stop members of Congress and their staff from trading on
insider information, in an under-the-radar vote that has been sharply
criticised by advocates of political transparency.
The changes, if they become law, will exclude Congressional and White
House staff members from having to post details of their shareholdings
online. They will also make online filing optional for the president,
vice-president, members of Congress and congressional candidates.
The House was expected to pass a similar bill on Friday.
Here is
the FT article, here are
other sources. Some officials
suggested that transparency “could threaten national security,” more detail on that
here. Here are
some further interesting details.
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