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Committee backs resolution urging Congress to ban individual stock trading by members
Summary
Senate Joint Resolution 26, urging Congress to prohibit members of Congress and their immediate family from trading individual stocks, advanced out of committee by unanimous voice vote.
Senate Joint Resolution 26, sponsored by Senator Ken Bogner, directs the Montana Legislature to urge Congress to prohibit members of Congress and their immediate family members from trading individual stocks.
Bogner told the committee that such a ban would strengthen ethical standards and restore public confidence in government. He described perceived conflicts of interest arising when federal lawmakers trade equities while overseeing legislation and regulation that can affect markets.
No opponents or informational witnesses testified in the committee excerpt. Senator Bogner and other senators discussed possible implementation mechanisms such as blind trusts; Bogner said he would support blind trusts that prevent members from knowing holdings while in office.
Senator Bogner moved the resolution and the committee passed SJ 26; the clerk recorded the committee vote as 10–0 in favor.
