Stop Insider Trading Act | ChamberLight

IN COMMITTEE· 119TH CONGRESS

Senate BillS 4134SecuritiesGovernment ethics and transparency, public corruption

Stop Insider Trading Act

INTRO MAR 18· LAST ACTION MAR 18

READING

7MIN

COSPONSORS

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LEGISLATIVE PROGRESS

STEP 2 / 8

Introduced

In Committee

Reported

Passed Senate

Passed House

Conference

To President

Became Law

WHAT THE BILL DOES

AI-written

This bill matters to voters because it directly addresses concerns about potential conflicts of interest and the perception that Members of Congress might use privileged information gained from their public service to make profitable personal stock trades. This issue has frequently eroded public trust in government and raised questions about fairness.

If this bill becomes law, it could significantly enhance transparency and ethical standards for federal lawmakers, potentially helping to restore public confidence that elected officials are working for the public good, not personal financial gain. If it doesn't pass, the current rules, which allow Members and their families to trade individual stocks as long as they disclose the trades (often after the fact), would remain, leaving the door open for continued public skepticism and the appearance of impropriety.

KEY PROVISIONS

5AI-extracted

PROVISION 01

Prohibits Members of Congress, their spouses, and dependent children from purchasing stocks or related investments in publicly traded companies.

This directly targets potential insider trading by preventing new individual stock acquisitions by lawmakers and their immediate families.

PROVISION 02

Requires a Member of Congress to publicly announce their intent to sell a "covered investment" for themselves or their family 7 to 14 days before the sale.

This provision creates transparency around stock sales, allowing public scrutiny and reducing the appearance of unfair advantage.

PROVISION 03

Excludes certain investments from these restrictions, such as widely diversified investment funds, small business interests, or assets held in truly independent blind trusts.

These exclusions provide practical allowances for common, less susceptible investment vehicles and prevent undue burden on family members' professional lives.

PROVISION 04

Establishes an administrative fee for violations, equal to the greater of $2,000 or 10% of the transaction value, plus any net gains realized.

This creates a clear financial consequence designed to deter non-compliance with the new investment rules.

PROVISION 05

Mandates the forced sale of any "covered investment" that was purchased in violation of the rules.

This ensures that any prohibited investments acquired improperly are removed from the individual's portfolio, reinforcing the ban.

SPONSORSHIP

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ACTION TIMELINE

2 EVENTS

MAR 18

Introduced in Senate

INTROREFERRAL

MAR 18

Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

INTROREFERRAL

BILL INFO

TypeSenate Bill

NumberS 4134

Congress119th

StatusIn Committee

IntroducedMar 18, 2026

Last actionMar 18, 2026

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IN COMMITTEE· 119TH CONGRESS · HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS COMMITTEE · INTRODUCED MAR 18, 2026

Senate BillS 4134SecuritiesGovernment ethics and transparency, public corruption

Stop Insider Trading Act

INTRODUCED MAR 18, 2026· LAST ACTION MAR 18, 2026

PASSAGE CHANCES

—%

READING

7 min

COSPONSORS

COMPLEXITY

Moderate

Call my reps

LEGISLATIVE PROGRESS

STEP 2 OF 8

Introduced

In Committee

Reported

Passed Senate

Passed House

Conference

To President

Became Law

Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law

WHAT THE BILL DOES

AI-written

KEY PROVISIONS

AI-extracted

high

Prohibits Members of Congress, their spouses, and dependent children from purchasing stocks or related investments in publicly traded companies.

This directly targets potential insider trading by preventing new individual stock acquisitions by lawmakers and their immediate families.

high

Requires a Member of Congress to publicly announce their intent to sell a "covered investment" for themselves or their family 7 to 14 days before the sale.

This provision creates transparency around stock sales, allowing public scrutiny and reducing the appearance of unfair advantage.

med

Excludes certain investments from these restrictions, such as widely diversified investment funds, small business interests, or assets held in truly independent blind trusts.

These exclusions provide practical allowances for common, less susceptible investment vehicles and prevent undue burden on family members' professional lives.

high

Establishes an administrative fee for violations, equal to the greater of $2,000 or 10% of the transaction value, plus any net gains realized.

This creates a clear financial consequence designed to deter non-compliance with the new investment rules.

med

Mandates the forced sale of any "covered investment" that was purchased in violation of the rules.

This ensures that any prohibited investments acquired improperly are removed from the individual's portfolio, reinforcing the ban.

DEADLINES & DATES

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

7 to 14 calendar days prior to sale

Notice of intent to sell a covered investment must be made and publicly disclosed at least 7 calendar days, and not more than 14 calendar days, prior to the sale.

PENALTIES & ENFORCEMENT

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

TYPE	AMOUNT	WHO
administrative	Fee equal to the sum of $2,000 or 10 percent of the value of the transaction (whichever is greater) AND the net gain realized from the covered investment during the period beginning on the most recent date on which the individual became a covered individual and ending on the date of disposition.	Member of Congress who caused the violation, or who is the spouse or parent of the covered individual who caused the violation
administrative	Required sale of the covered investment purchased in violation of the rules.	Covered individual who purchased the covered investment

GLOSSARY

AI-written

Covered individual: A Member of Congress, their spouse, or their dependent child.
Covered investment: A stock issued by a publicly traded company, or any related financial products like options or derivatives that get their value from such a stock. It excludes diversified funds, small business interests, and assets in independent trusts.
Publicly traded company: A company whose shares can be bought and sold by the general public on a stock exchange.
Security: A financial item that has a monetary value and can be traded, such as stocks, bonds, or mutual funds.
Supervising ethics office: The official office responsible for overseeing ethical conduct for Members of Congress and their staff, such as the House or Senate Ethics Committee.
Excepted investment fund: A type of investment fund (like a widely diversified mutual fund) that is generally exempt from certain disclosure or restriction rules because it is managed independently and doesn't concentrate on specific company stocks.

ACTION TIMELINE

2 EVENTS

MAR 18

Introduced in Senate

INTROREFERRAL

MAR 18

Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

INTROREFERRAL

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Homeland Security and Governmental Affairs CommitteeReferred

Mar 18, 2026

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Stop Insider Trading Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

SPONSORSHIP

ACTION TIMELINE

BILL INFO

READER REACTIONS

Discussion

Stop Insider Trading Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

DEADLINES & DATES

PENALTIES & ENFORCEMENT

GLOSSARY

ACTION TIMELINE

SPONSORS

READER REACTIONS

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Discussion

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