Rep. Brian Stile says Stop Insider Trading Act would bar members from buying individual stocks

Rep. Brian Stile said the Stop Insider Trading Act he introduced would bar members of Congress, their spouses and dependent children from trading individual stocks while they serve, though it would allow investments in broadly diversified funds.

"If you come to Washington DC, you shouldn't be trading stocks day in and day out," Stile said on the program, arguing that members should focus on public service rather than active individual stock trading. He described the bill as a preventive reform designed to remove opportunities for conflicts of interest.

Stile told the host the legislation is focused on individual stocks and would allow members to invest in diversified vehicles such as S&P 500 funds or ETFs: "If an individual wants to invest in a broadly diversified fund, you want to buy the S and P 500, we want to reward people who have worked hard and able to save. That's fine." He said the measure would prevent members from using information they may possess for market-moving trades.

When the host raised past high-profile trading questions — specifically asking whether Nancy Pelosi had insider-traded — Stile responded that proving insider trading is difficult and that the bill's purpose is to prevent the problem rather than litigate prior trades: "Instead of debating after the fact whether or not an individual stock trade was or was not insider trading, let's just prevent members of congress from being able to trade those stocks in the first place." He described the proposal as an ethics reform that he expects will come to the floor next week.

The interview noted some Democratic lawmakers have pushed for wider restrictions; Stile acknowledged there has been pushback that the bill "is not going far enough." The transcript records timing for floor consideration but does not record a House vote on the measure during this session.