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Committee debates preclearance and stronger enforcement to curb congressional stock trading
Summary
At a House Administration committee hearing a committee member urged strengthening the STOCK Act and adopting a preclearance process for members’ stock trades; two witnesses said preclearance could work but stressed careful drafting and enforcement.
A committee member at a House Administration committee hearing urged stronger enforcement of the STOCK Act and proposed a preclearance requirement for lawmakers’ stock trades as a way to restore public trust.
The committee member, speaking throughout the exchange, said congressional stock trades “have come under incredible scrutiny” and asserted that some senior members are ‘‘consistently beating out some of the best investors in the country in the S and P 500,” which the member called “a problem.” The member also said, “Upon my election to congress, I…
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