econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result

Government Insider Trading Rules Strengthened

admin by admin
4월 11, 2012
in 미분류
0
0
SHARES
0
VIEWS

Econintersect:  There was little new fanfare last week when President Obama signed into law legislation that will reduce some of the insider trading abuses stocks-buy-sellby congress people, their staff and others in government.  As reported in GEI News last June, efforts to get such legislation brought to a vote had languished for lack of support since at least 2006.  When repeated publicity about abuses became more commonplace, reaching a high point with a “60 Minutes” episode last November.  The president called for legislation in the State of the Union and finally congress members were falling all over themselves to support the long ignored initiative.  The House passed the measure Feb. 9 by a 417-2 vote, and the Senate followed March 22 by a vote of 96-3.

Here is the 60 Minutes video that was the culmination of efforts to get attention paid to the problem:

congress-insider-trading-60-min-video

 

Details from Bloomberg:

The law prohibits lawmakers, their staffs and some executive branch employees from trading stocks, commodities or futures based on private information they learn on the job. It would prevent lawmakers from participating in initial public offerings that aren’t available to the general public.

Under terms of the new law, more than 28,000 senior government officials who already must file public disclosures, including the president, the vice president, cabinet members, lawmakers and their staffs, must publicly report all trades valued at $1,000 or more within 30 days after they are informed of the transaction, and in no case any later than 45 days after the transaction occurred. The rule wouldn’t apply to widely held investment funds.

The law also prohibits bonuses for Fannie Mae (NYSE:FNMA) and Freddie Mac (NYSE:FMCC) as long as the companies remain under government conservatorship.

Editor’s note: Econintersect is amazed that this condition of corruption was tolerated for so long and that when it was ended there was so little notice in the media.

John Lounsbury

Sources:

  • Insider Traders in Government (GEI News, 24 June 2011)
  • Law Strengthens Ban on Congressional Insider Trading (Financial Advisor, 5 April 2012)
  • Stock Act Signed, JPMorgan Settlement, SEC Warns:  Compliance (Carla Main, Bloomberg, 5 April 2012)
  • CBS News
Previous Post

Buffett Trashes Gold Because It Is Like Tulips

Next Post

U.S.: New Credit Downgrade

Related Posts

Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by admin
Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
6,746 ETH Valued At $12M Was Just Burned
Economics

6,746 ETH Valued At $12M Was Just Burned

by admin
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin: What Next After Consolidation Ends?

by admin
US Government Offloads Another 8,200 Bitcoin – On-chain Data
Economics

US Government Offloads Another 8,200 Bitcoin – On-chain Data

by admin
Next Post

U.S.: New Credit Downgrade

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect