Stop Insider Trading Act
Sponsored By: Senator Pete Ricketts
Introduced
Summary
A near-ban on most stock purchases by Members of Congress and their close family members. This bill would stop covered lawmakers, their spouses, and dependent children from buying individual securities while serving and would require advance public notice for any planned sales.
Show full summary
- Covered individuals would be barred from purchasing most publicly traded securities during federal service. Narrow exceptions would allow dividend reinvestment, certain trusts with independent trustees, interests in small businesses, and some pooled funds.
- Any sale of a covered investment would need a public notice filed 7 to 14 days before the sale. Notices must list the projected sale date, describe the transaction, and show the number of shares, and they would be posted by the House Clerk or Senate Secretary.
- Violations would trigger a fee set by the supervising ethics office equal to $2,000 or 10% of the transaction, whichever is greater, plus any net gains; unpaid fees could be referred to the Attorney General and collected for the Treasury.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Penalties, guidance, and start date
If enacted, supervising ethics offices could assess a fee when a covered person breaks the trading rules. If enacted, the fee would be the greater of $2,000 or 10% of the bad transaction plus any net gain from when the person became a covered individual through disposition. If enacted, purchases made in violation must be sold, and the ethics office can direct who pays the fee; fees may not be paid from specified official or campaign accounts. If enacted, collected fees would go to the U.S. Treasury. If enacted, supervising ethics offices could issue guidance and consider mitigating or aggravating facts. If enacted, the Act would take effect 180 days after enactment and ethics offices may refer unpaid cases to the Attorney General if a Member leaves office before paying.
Trading limits for Members' families
If enacted, the bill would bar Members of Congress, their spouses, and dependent children from buying most public-company securities or related instruments while serving. If enacted, sales of those investments would need a public notice filed 7 to 14 days before the sale with the Clerk of the House or the Secretary of the Senate. If enacted, the notice must show the projected sale date, describe the sale, and list the number of shares; it may be withdrawn before the notice period ends. If enacted, narrow exceptions would allow trades by a spouse or child when done for someone else or as compensation or a fiduciary duty, reinvestment of dividends, investments in certain excepted funds, small-business interests, and trusts that meet strict independence rules.
Sponsors & CoSponsors
Sponsor
Pete Ricketts
NE • R
Cosponsors
David McCormick
PA • R
Sponsored 3/18/2026
Jon Husted
OH • R
Sponsored 3/18/2026
Deb Fischer
NE • R
Sponsored 3/18/2026
Roger Marshall
KS • R
Sponsored 3/18/2026
Bill Cassidy
LA • R
Sponsored 3/18/2026
Todd Young
IN • R
Sponsored 3/18/2026
Dan Sullivan
AK • R
Sponsored 3/24/2026
Chuck Grassley
IA • R
Sponsored 4/2/2026
Kevin Cramer
ND • R
Sponsored 4/2/2026
John Cornyn
TX • R
Sponsored 4/2/2026
Cynthia Lummis
WY • R
Sponsored 4/2/2026
Steve Daines
MT • R
Sponsored 4/2/2026
James Risch
ID • R
Sponsored 4/2/2026
Katie Britt
AL • R
Sponsored 4/2/2026
Roll Call Votes
No roll call votes available for this bill.
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