Legislation Search

H.R. 7008: Stop Insider Trading Act

The Stop Insider Trading Act aims to amend existing laws regarding stock trading by Members of Congress and their immediate families. Here’s a breakdown of the key provisions of the bill:

Overview of the Act

The bill introduces new restrictions on stock transactions conducted by "covered individuals," which include Members of Congress, as well as their spouses and dependent children.

Definitions

Covered Individual: A Member of Congress and their spouse or dependent children.
Covered Investment: Stocks or securities issued by publicly traded companies, excluding certain funds and small business investments.
Publicly Traded Company: A company with securities registered under federal securities laws.

Restrictions on Investments

The bill prohibits covered individuals from purchasing covered investments while they are serving in Congress. Additionally, there are specific requirements related to selling such investments, which include:

A mandatory public notice of intent to sell, which must be disclosed at least 7 but no more than 14 days before the sale.
Content requirements for the notice, including the projected date, description, and number of shares to be sold.
Allowed withdrawal of the notice if the individual decides not to proceed with the sale.

Exceptions

The notice requirements do not apply to transactions by spouses or dependents made on behalf of others or as part of employment compensation.
Transactions made for reinvesting dividends from a covered investment are also exempt from the restrictions.

Enforcement

Violations of the investment restrictions can result in penalties including:

Fees imposed on the violator, which could be up to $2,000 or 10% of the transaction value, whichever is greater.
Mandates to sell any covered investment purchased in violation of the restrictions.

Collected fees are to be deposited into the general fund of the Treasury, and the supervising ethics office may issue guidance on enforcement and compliance.

Effective Date

The provisions of this Act will take effect 180 days after it is enacted.

Relevant Companies

None found

This is an AI-generated summary of the bill text. There may be mistakes.

Actions

6 actions

Date	Action
Feb. 03, 2026	Placed on the Union Calendar, Calendar No. 409.
Feb. 03, 2026	Reported (Amended) by the Committee on House Administration. H. Rept. 119-479.
Jan. 14, 2026	Committee Consideration and Mark-up Session Held
Jan. 14, 2026	Ordered to be Reported (Amended) by the Yeas and Nays: 7 - 4.
Jan. 12, 2026	Introduced in House
Jan. 12, 2026	Referred to the House Committee on House Administration.

Corporate Lobbying

0 companies lobbying

None found.

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Potentially Relevant Congressional Stock Trades

No relevant congressional stock trades found.