What United States Stop Trading on Congressional Knowledge (STOCK) Act of 2012 (Public Law 112-105): Definitions, Prohibition of Insider Trading by Members and Employees of Congress, Prompt Reporting of Financial Transactions, Public Disclosure of Financial Forms, Initial Public Offerings Restrictions, Post-Employment Negotiation Disclosure, and Wrongful Influence of Private Employment Decisions requires
The Stop Trading on Congressional Knowledge (STOCK) Act of 2012, Public Law 112-105 of 4 April 2012, is the principal federal statute affirming that Members of Congress and federal officials are subject to the insider trading prohibitions arising under the securities laws and imposing additional disclosure and ethical requirements on federal officials, administered through the Securities and Exchange Commission, the Department of Justice, the Office of Government Ethics, and the ethics committees of the House and Senate. STOCK Act, section 2 contains the definitions establishing categories for Members of Congress, congressional employees, executive branch employees, judicial officers, and judicial employees for purposes of the Act. STOCK Act, section 4 states that Members of Congress and employees of Congress are not exempt from the insider trading prohibitions arising under the securities laws, including section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. STOCK Act, section 6 requires the prompt reporting of financial transactions including the requirement that financial transaction disclosures be filed within 30 to 45 days of occurrence for specified officials. STOCK Act, section 8 mandates that financial disclosure forms be made available online within 30 days of filing, accessible without login requirements (later modified by subsequent legislation). STOCK Act, section 12 restricts covered individuals from purchasing initial public offering securities except in any manner other than is available to members of the public generally. STOCK Act, section 17 requires individuals to file statements within 3 business days of beginning negotiations for future private sector employment. STOCK Act, section 18 extends criminal prohibitions against wrongfully influencing private entity employment decisions to executive branch officers. The Act is the controlling federal instrument affirming insider trading prohibitions on federal officials and imposing transparency on their financial transactions.
Pillar: Financial Crime, AML & Sanctions · Authority: United States Government - Securities and Exchange Commission, Office of Government Ethics, and Congressional ethics committees · Version: 1.0.0 · Last updated:
Primary source: https://www.govinfo.gov/content/pkg/PLAW-112publ105/html/PLAW-112publ105.htm
SHA-256 integrity: f711f0f0831de755dbf25d583eba49be6be1fbe2b52b1eaa567b3713f8bfea66
Primary Citations — 8 traced to source
- STOCK Act, section 2 - definitions of covered officials.
- STOCK Act, section 4 - prohibition of insider trading affirmed for Members and employees of Congress.
+ 6 more citations (full bibliography, deterministic workflow, actionable schema and crosswalks) included in the vault unlock — $0.01 via Skyfire / L402 / Direct Base USDC.
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