House Passes STOCK Act 10 Feb 12

The U-S House on Thursday overwhelmingly approved the Stop Trading on Congressional Knowledge Act. The original STOCK Act bill was co-sponsored by Southern Minnesota Congressman Tim Walz. The STOCK Act passed the House on a vote of 417-2. The legislation bans insider trading on Capitol Hill. Walz is not sure whether the bill will now go straight to President Obama’s desk or a conference committee. A provision that would have required political intelligence firms to register like lobbyists was eliminated from the bill prior to it’s approval.