• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
    • FinTech Awards
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

AOC: ‘No Mystery’ Why It’s Hard To Ban Lawmaker Stock Trading

Feb 03, 2022

AOC: ‘No Mystery’ Why It’s Hard To Ban Lawmaker Stock Trading

Last week, 27 legislators signed a letter pushing House of Representatives leaders to react fast to bring "commonsense, bipartisan" law prohibiting Congressmen from holding or trading assets to the floor.

The letter described politician stock trading as an "outrageous problem" that will not go away unless Congress addresses it. While federal politicians have introduced a number of laws aimed at prohibiting parliamentarians from trading equities, the regulation may meet criticism from members who participate in the activity.

In a recent interview, Congresswoman Alexandria Ocasio-Cortez referred to the difficulties of getting Congressmen to regulate their own actions.

"It 's not a mystery to me why it's tough to pass," Ocasio-Cortez said in a big interview. "It wouldn't be a surprise if a significant majority of Congresspeople own and keep trading individual stocks."

Because members have access to private information, the approach of so-called insider trading in Congress has been widely criticized in recent years. Perhaps most infamously, the Justice Department investigated four lawmakers who sold considerable sums of equities in January and February 2020 while being informed about COVID-19's impending danger. While the senators were not charged criminally, the inquiry brought to light the fact that Congress often has access to privileged knowledge that might have a meaningful impact on public businesses.

"I am a member of Congress," Ocasio-Cortez said. "Members of Congress have access to highly important security clearances. We have access to very comprehensive, customized briefings. Our goal is to predict and prepare for what we see approaching. And we should not be able to have access to such information while at the same time holding and trading individual stocks."

While House members are permitted to trade stocks, the Stop Trading on Congressional Knowledge Act of 2012 prohibits them from trading on "material, nonpublic knowledge" and forces them to declare transactions within 45 days. However, more than a few politicians have broken the STOCK Act: Insider recently did an investigation that revealed 54 legislators who refused to follow the rule's reporting obligations.

And according to Insider, 75 federal politicians had shares in Moderna, Pfizer, or Johnson & Johnson in 2020, while Congress approved billions to produce and deliver COVID vaccines manufactured by these same businesses.

One proposal recently filed to further restrict trading on private information in Congress would try to tighten the STOCK Act's disclosure standards. At the same time, Democratic Senators Mark Kelly of Arizona and Jon Ossoff of Georgia presented legislation in January that would restrict senators and their close relatives from holding or trading assets.

For her part, Ocasio-Cortez calls for a complete ban on asset trading activities, but she emphasizes that this would not stop Congresspeople from having a larger interest in the financial markets. "The point here is not to say you can't have a retirement plan or an education savings account... a blind trust... a mutual fund, an index fund," she explained. "These are broad investment entities over which individual members of Congress have no direct influence."

Subscribe Our Newsletter

What To Expect From Global Markets In 2022: Growth and the Rise of Small Caps
What To Expect From Global Markets In 2022: Growth and the Rise of Small Caps

2022 could mark a new market era: inflation, tightening of policies by central banks, etc. To help you prepare, Investing.com has gathered a team of journalists and analysts from all around the world to offer you a preview of what's to come.

Stocks
China’s Second Quarter Was Grim. Here’s What It Means for Its Stock Recovery
China’s Second Quarter Was Grim. Here’s What It Means for Its Stock Recovery

China is anticipated to experience its slowest economic growth since the height of the epidemic in 2020. Investors should consider the state of the consumer and credit expansion to determine whether the early stock market rebound can last.

Banks and Finance
Tamta

Understanding Perpetual Futures: How Do They Work?
The world of finance is constantly changing, and with it comes new ways to grow your wealth. Cryptocurrencies, stocks, and commodities are known for their ups and downs, and while it might not happen overnight, there's potential for investments to multiply in value.

discover
What are DeFi liquidity pools?

Liquidity Provider

What are DeFi liquidity pools?

Let's find out: what is a DeFi liquidity pool, why are liquidity pools important, how protected are funds in DeFi liquidity pools and more.

Fintech

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Tamta

    Guide to Craiyon: How To Use a New DALL-E Mini

    https://liquidity-provider.com/app/uploads/2023/06/cover-5-800x540.jpg

    Tamta

    Credit Cards vs. Debit Cards

    https://liquidity-provider.com/app/uploads/2023/06/cover-800x540.jpg

    Tamta

    Investing In Private Equity: What Should You Know?

    https://liquidity-provider.com/app/uploads/2023/05/cover-7-800x540.jpg

    Tamta

    What is Data Analytics? Techniques, Tools, Methodology, and More

    https://liquidity-provider.com/app/uploads/2023/05/cover-6-800x540.jpg

    Tamta

    Bitcoin Halving is Coming: What Does it Mean for the Crypto Market?

    https://liquidity-provider.com/app/uploads/2023/05/cover-4-800x540.jpg

    Tamta

    Crypto Token Supply From A to Z

    https://liquidity-provider.com/app/uploads/2023/05/cover-3-800x540.jpg

    Tamta

    What Is ChatGPT, And How Can You Use It?

    https://liquidity-provider.com/app/uploads/2023/05/cover-2-800x540.jpg

    Anton

    Trading on Autopilot: The Rise of Crypto Trading Bots

    https://liquidity-provider.com/app/uploads/2023/05/cover-1-800x540.jpg

    Tamta

    Crypto Investing vs. Crypto Trading: What’s The Difference?

    https://liquidity-provider.com/app/uploads/2023/04/cover-5-800x540.jpg

    Tamta

    Understanding Indexed Universal Life Insurance (IUL)

    https://liquidity-provider.com/app/uploads/2023/04/cover-4-800x540.jpg

    Tamta

    Best Investment Strategies For Beginners

    https://liquidity-provider.com/app/uploads/2023/04/image1-800x540.jpg

    Tamta

    Understanding Perpetual Futures: How Do They Work?

    https://liquidity-provider.com/app/uploads/2023/04/cover-3-800x540.jpg

    Tamta

    What Is A Bitcoin Stock-To-Flow Model? Beginner’s Guide

    https://liquidity-provider.com/app/uploads/2023/04/cover-2-800x540.jpg

    Tamta

    Best Decentralized Crypto Exchanges In 2023

    https://liquidity-provider.com/app/uploads/2023/04/cover-1-800x540.jpg

    Tatma

    Best High-Yield Savings Accounts For March 2023

    https://liquidity-provider.com/app/uploads/2023/04/cover-800x540.jpg

    Tamta

    Crypto Trading For Beginners

    https://liquidity-provider.com/app/uploads/2023/03/cover-8-800x540.jpg

    Tamta

    How To Make Money With Cryptocurrency

    https://liquidity-provider.com/app/uploads/2023/03/cover-7-800x540.jpg

    Tamta

    What Is A Candlestick Chart?

    https://liquidity-provider.com/app/uploads/2023/03/cover-6-800x540.jpg

    Constantine

    White Label Forex Software — Ultimate Guide on How to Choose The Best Industry Solution

    https://liquidity-provider.com/app/uploads/2023/03/cover-3-300x203.jpg

    Tamta

    Forex Trading: A Beginner’s Guide

    https://liquidity-provider.com/app/uploads/2023/03/cover-2-300x203.jpg

    Tamta

    How to Create a Cryptocurrency

    https://liquidity-provider.com/app/uploads/2023/03/cover-1-1-300x203.jpg

    Tamta

    Top Ten Richest People In The World, 2023

    https://liquidity-provider.com/app/uploads/2023/03/cover-4-1-300x203.jpg

    Constantine

    What’s at Stake? Here’s How to Avoid Scam Tokens

    https://liquidity-provider.com/app/uploads/2023/03/cover-5-300x203.jpg

    Constantine

    Investing in Currencies That Are More Valuable Than the American Dollar

    https://liquidity-provider.com/app/uploads/2023/02/cover-2-300x203.jpg
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2023 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy