3.0.0 702 2023-01-11T13:27:53Z 2023-01-11T13:27:53Z Senate S 2015-03-11 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2015-03-11T14:23:01Z 2015-03-11 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1440-1441) IntroReferral 2015-03-11 Introduced in Senate IntroReferral 10000 9 Library of Congress R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. N M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2015-03-11 True Finance and Financial Sector Administrative law and regulatory procedures Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2015-03-11 Introduced in Senate 2015-03-26T15:01:36Z Stop Illegal Insider Trading Act

This bill amends the Securities Exchange Act of 1934 governing manipulative and deceptive devices to make it unlawful for any person to: (1) purchase, sell, or cause the purchase or sale of any security on the basis of material information that the person knows or has reason to know is not publicly available; or (2) knowingly or recklessly communicate material information that the person knows or has reason to know is not publicly available to any other person under circumstances in which it is reasonably foreseeable that the communication is likely to result in a violation of this prohibition.

Excludes from the definition of "not publicly available" any information a person has developed independently from publicly available sources.

The Securities and Exchange Commission is permitted to exempt, by rule, any person, transaction, communication, or any class of persons, transactions, or communications from the prohibitions of this Act, if it determines that the exemption is necessary or appropriate in the public interest and consistent with the protection of investors.

]]> Stop Illegal Insider Trading Act Display Title Stop Illegal Insider Trading Act Official Title as Introduced A bill to strengthen the prohibitions on insider trading, and for other purposes. Introduced in Senate IS Short Titles as Introduced Stop Illegal Insider Trading Act Introduced in Senate 2015-03-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s702is/xml/BILLS-114s702is.xml 2015-03-11 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1440-1441) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.