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Old 08-04-2012, 01:04 AM   Nav to Top  #1
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Eye STOCK Act: Loophole closed

Stop Trading On Congressional Knowledge (STOCK) Act was a measure to prevent the use of insider information that congressmen could access, and then gain unfair advantages. The law was signed in April by president Obama.

Now a congressman, if buys or sells share worth more than $1,000, has to report. However, there was a loophole. The congressmen could tell their families and they could buy (or sell) the stocks without reporting anything.

Now, the congress has acted after media reports and now the loop hole is closed. The family members are also bound to report like the congressmen.

Let's welcome the family members of congressmen to the fair playing ground!
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