H.R. 7008 · Passed House · Congress

Stop Insider Trading Act

Sponsor: Bryan Steil (R-WI)

What it does

• Prohibit Members of Congress and their spouses and dependent children from purchasing stocks and other covered investments (securities issued by publicly traded companies or comparable economic interests).
• Require Members to file public notice 7 to 14 days before selling covered investments, with notices published online by the House Clerk or Senate Secretary.
• Impose penalties of the greater of $2,000 or 10% of transaction value, plus any net gains realized during a specified period, for violations; require forced sale of improperly purchased investments.
• Exempt certain investments including widely held investment funds and assets held in trusts, as well as transactions made on behalf of another person.

Official summary

Stop Insider Trading Act This bill generally prohibits Members of Congress and their spouses and dependent children from purchasing stocks and requires public notice before these individuals may sell stocks. Specifically, Members of Congress and the spouses and dependent children of Members of Congress may not purchase covered investments. Between 7 and 14 days before a Member or a covered spouse or dependent sells a covered investment, the relevant Member must file public notice of the intent to sell with the Clerk of the House of Representatives or the Secretary of the Senate, as appropriate. The Clerk or Secretary must publish this notice online. If the individual decides not to sell the covered investment, the notice must be withdrawn. Under the bill, a covered investment is a security issued by a publicly traded company or a comparable economic interest. Some investments are exempt, including interest in a widely held investment fund and certain investments held in a trust. Violations of these provisions are subject to a fee and, in the case of a purchase, a requirement to sell the covered investment. The fee must equal (1) the greater of $2,000 or 10% of the transaction…

Latest action

Sep 30, 2026: Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 53 - 47. Record Vote Number: 253.

Committee: House Committee on House Administration