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House hearing explores tougher disclosure rules, fines tied to profit in Restore Trust in Congress Act
Summary
A House hearing probed proposals to tighten members' financial-disclosure rules, including pre-clearance requirements and penalties that would be the greater of $1,000 or profits from illicit trades, as described in the Restore Trust in Congress Act.
A member of Congress pressed witnesses at a House Administration Committee hearing on proposals to strengthen financial-disclosure rules for lawmakers, saying "Americans' trust in Congress is at a 5 decade low." The member directly addressed "Mr. Copeland" and asked what changes would deter insider-style trading by members.
One witness said current disclosure thresholds—"$1,000" and a "45 days" reporting window—are "reasonable," but added that requiring…
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