Treasury Secretary Scott Bessent said he will push for legislation to ban members of Congress from trading individual stocks, arguing the practice undermines public trust and would draw SEC scrutiny if done by private citizens.
- Bessent told Bloomberg he supports a single‑stock trading ban for lawmakers, with allowances for widely held ETFs and long holding periods.
- He said an existing stock‑ban bill is circulating on Capitol Hill but is not yet “perfect.”
- Questioned on scope, Bessent said similar rules could extend to the executive branch.
- He cited “eye‑popping returns” reported by some lawmakers as damaging to credibility.
- Argued tax and ethics rules should prevent day‑trading by officials while they serve.
Relevant Companies
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Editor’s Note: This is a developing story. This article may be updated as more details become available.
