# 119-s-5320: Insider Trading Prohibition Act

119-s-5320, Insider Trading Prohibition Act, is a 119th Congress bill sponsored by Sen. Reed, Jack [D-RI] (D-RI); status introduced; PRIA reads it as touching household money (as of 2026-08-21).

- Canonical: https://policyrisk.com/legislation/119-s-5320
- As of: 2026-08-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-5320
- Congress: 119
- Title: Insider Trading Prohibition Act
- Status: introduced
- Introduced: 2026-08-06
- Sponsor: Sen. Reed, Jack [D-RI] (D-RI)
- Cosponsors: 4
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-08-21

## Summary

**This bill would add a new Section 16A to the Securities Exchange Act to create a broad federal ban on wrongful insider trading and on wrongfully sharing material, nonpublic information (MNPI).** It targets anyone who trades or causes trading while aware or recklessly disregarding that the information is material, nonpublic, or wrongfully obtained.

## Cosponsors (4)

- Sen. Van Hollen, Chris [D-MD] (D-MD), 2026-08-06T00:00:00.000Z
- Sen. Kim, Andy [D-NJ] (D-NJ), 2026-08-06T00:00:00.000Z
- Sen. Alsobrooks, Angela D. [D-MD] (D-MD), 2026-08-06T00:00:00.000Z
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE), 2026-08-06T00:00:00.000Z

## Provisions PRIA read

- Ban on trading using secret tips: benefit, high. If enacted, the bill would ban buying, selling, or entering security trades when a person has material, nonpublic information and knows or recklessly ignores that fact. It would also ban wrongfully passing that information if the sharer knows or recklessly ignores it will cause someone to trade and…
- Add new insider rule to Exchange Act: benefit, low. If enacted, the bill would insert a new Section 16A into the Securities Exchange Act and add references to it across related provisions. This would put the new insider-trading prohibition into the Act's definitions, enforcement, penalty, and whistleblower rules. The change is mainly technical to he…
- SEC exemption and safe harbor rules: mixed, medium. If enacted, the bill would let the Securities and Exchange Commission exempt any person, security, or trade from the new insider-trading ban by rule or order. The SEC could set terms and conditions for any exemption. The bill would also say the ban does not apply to trades that meet Rule 10b5-1 or…

## Related bills

- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act

## Sources
- [119-s-5320 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5320)

## Related
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-5320 (as of 2026-08-21).