Rep. Maloney statement on Senate passage of the STOCK Act
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, today released the following statement after Senate approval (by a vote of 96 to 3) of the House version of the STOCK Act, which would ban insider trading by Members of Congress, certain staff, and employees of the executive branch.
“Overwhelming, bipartisan passage of the STOCK Act is a long-overdue reform of how Washington does business, and now the Senate has followed in the House footsteps. I’ve frequently said that elected officials must be like Caesar’s wife in avoiding the appearance of impropriety.
“The need to expressly prohibit this activity, in statute, cannot be overstated; insider trading is illegal on Wall Street and now it will be illegal on Capitol Hill. It’s about time. I salute my colleagues Tim Walz and Louise Slaughter for their persistent leadership on this issue.”