Are senators proposing a ban on stock trading for lawmakers as an insider countermeasure

It was reported on Wednesday that a bipartisan coalition of US senators revealed a congressional stock trading ban plan to prevent lawmakers from using insider information.

Four members of Congress, Senators John Ossoff (Democratic Party, Georgia), Gary Peters (Democratic Party, Michigan), Josh Hawley (Republican Party, Montana), and Jeff Barkley (Democratic Party, Oregon), presented draft legislators at the Capitol.

If approved, purchases of shares and other target investments by members of parliament will be suspended, and sales of shares by members of parliament will be prohibited 90 days after enactment of the bill, NBC News reports, citing the background bill.

Also, from 2027/3, stock trading will also be prohibited for lawmakers' spouses and dependent children. In addition to the president and vice president, members of parliament will also be required to withdraw their hands from all target investments starting 2027.

The article reports that when these rules are violated, the higher of the lawmaker's monthly salary or 10% of the asset value in violation of the law is subject to penalties.