Congressional Insider Trading: A Legislative Analysis and Covid-19 Case Study

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2023-05

Authors

Sarvadi, Katherine

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Abstract

Due to their political positions, members of Congress often find themselves privy to information that has not yet been revealed to the public, some of which has the potential to impact the value of publicly-traded companies. Due to legislation such as the Ethics in Government Act of 1978 and the STOCK Act of 2012, Congressional members are prohibited from trading on this information and are required to file public disclosures no more than 30 days after trading securities. In the past, however, these regulations have proven unsuccessful in stopping this behavior–including during the Covid-19 Pandemic.

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