HR 1148 · 112th Congress 2011–2013, ended

Stop Trading on Congressional Knowledge Act

Introduced Mar 17, 2011 Originated House Sponsor Timothy J. Walz D-MN

Latest action · Feb 1, 2012 Motion to Discharge Committee filed by Mr. Walz (MN). Petition No: 112-3. (<a href="http://clerk.house.gov/112/lrc/pd/petitions/DisPet0003.xml ">Discharge petition</a> text with signatures.)

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedMar 17, 2011
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Stop Trading on Congressional Knowledge Act - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to direct both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to prohibit purchase or sale of either securities, security-based swaps, or commodities for future delivery or swap by a person in possession of material nonpublic information regarding pending or prospective legislative action if the information was obtained: (1) knowingly from a Member or employee of Congress, (2) by reason of being a Member or employee of Congress, or (3) from other federal employees and derived from their federal employment.

Amends the Code of Official Conduct of the Rules of the House of Representatives to prohibit any Member, officer, or employee of the House from disclosing material nonpublic information relating to any pending or prospective legislative action relating to any publicly-traded company or to any commodity if such person has reason to believe that the information will be used to buy or sell the securities of that publicly traded company or that commodity for future delivery based on such information.

Directs both the Committee on Agriculture and the Committee on Financial Services of the House of Representatives to hold hearings on the implementation by the CFTC and the SEC of such financial transaction prohibitions.

Amends the Ethics in Government Act of 1978 to require formal disclosure of certain securities and commodities futures transactions to either the Clerk of the House of Representatives or the Secretary of the Senate.

Amends the Lobbying Disclosure Act of 1995 to subject to its registration, reporting, and disclosure requirements, as well as requirements for identification of clients and covered legislative and executive officials, all political intelligence activities, contacts, firms, and consultants. Requires the Comptroller General to include political intelligence activities, contacts, firms, and consultants in its annual compliance audits and reports.

Cosponsors 286

Members who signed on, in the order they did. Signatures ran from Mar 17, 2011 to Feb 9, 2012; 1 is an original cosponsor, there from the day it was introduced.

Seat	Cosponsor		Signed on
D-NY	Louise McIntosh Slaughter	Original	Mar 17, 2011
D-MA	Niki Tsongas		Apr 8, 2011
D-AZ	Raúl M. Grijalva		Apr 8, 2011
D-IA	David Loebsack		May 2, 2011
D-OH	Dennis J. Kucinich		Jun 14, 2011
D-OR	Earl Blumenauer		Jun 14, 2011
R-NC	Walter B. Jones		Oct 5, 2011
D-NY	Kathleen C. Hochul		Nov 4, 2011
D-TN	Steve Cohen		Nov 4, 2011
D-MN	Betty McCollum		Nov 14, 2011
D-MD	Chris Van Hollen		Nov 14, 2011
D-MI	Hansen Clarke		Nov 14, 2011
D-PA	Jason Altmire		Nov 14, 2011
D-IL	Jesse L. Jackson, Jr.		Nov 14, 2011
D-TN	Jim Cooper		Nov 14, 2011
D-GA	John Barrow		Nov 14, 2011
D-TX	Lloyd Doggett		Nov 14, 2011
D-IL	Mike Quigley		Nov 14, 2011
R-IL	Robert T. Schilling		Nov 14, 2011
D-CA	Brad Sherman		Nov 15, 2011
D-HI	Colleen Hanabusa		Nov 15, 2011
D-CA	Grace F. Napolitano		Nov 15, 2011
D-NC	Heath Shuler		Nov 15, 2011
R-WA	Jaime Herrera Beutler		Nov 15, 2011
D-VA	James P. Moran		Nov 15, 2011
D-CA	Lois Capps		Nov 15, 2011
D-IL	Luis V. Gutierrez		Nov 15, 2011
D-NY	William L. Owens		Nov 15, 2011
D-WA	Adam Smith		Nov 16, 2011
D-FL	Alcee L. Hastings		Nov 16, 2011
D-CA	Bob Filner		Nov 16, 2011
D-NY	Brian Higgins		Nov 16, 2011
D-NY	Carolyn B. Maloney		Nov 16, 2011
D-MN	Collin C. Peterson		Nov 16, 2011
R-FL	Dennis A. Ross		Nov 16, 2011
R-MT	Denny Rehberg		Nov 16, 2011
R-NJ	Frank A. LoBiondo		Nov 16, 2011
D-CA	Jackie Speier		Nov 16, 2011
D-MA	James P. McGovern		Nov 16, 2011
D-CO	Jared Polis		Nov 16, 2011
D-CT	Joe Courtney		Nov 16, 2011
D-MI	John Conyers, Jr.		Nov 16, 2011
D-MN	Keith Ellison		Nov 16, 2011
D-NC	Larry Kissell		Nov 16, 2011
D-OR	Peter A. DeFazio		Nov 16, 2011
D-WA	Rick Larsen		Nov 16, 2011
D-PA	Tim Holden		Nov 16, 2011
D-NY	Timothy H. Bishop		Nov 16, 2011
D-CA	Adam B. Schiff		Nov 17, 2011
R-FL	Allen B. West		Nov 17, 2011
D-MA	Barney Frank		Nov 17, 2011
R-NH	Charles F. Bass		Nov 17, 2011
D-ME	Chellie Pingree		Nov 17, 2011
D-NC	David E. Price		Nov 17, 2011
D-MI	Gary C. Peters		Nov 17, 2011
D-NY	Gary L. Ackerman		Nov 17, 2011
D-TX	Gene Green		Nov 17, 2011
D-CT	James A. Himes		Nov 17, 2011
D-DE	John C. Carney, Jr.		Nov 17, 2011
D-NM	Martin Heinrich		Nov 17, 2011
D-NY	Maurice D. Hinchey		Nov 17, 2011
R-TX	Michael C. Burgess		Nov 17, 2011
D-ME	Michael H. Michaud		Nov 17, 2011
R-OH	Steve Chabot		Nov 17, 2011
R-TX	Ted Poe		Nov 17, 2011
D-CA	Anna G. Eshoo		Nov 18, 2011
R-GA	Austin Scott		Nov 18, 2011
D-CA	Barbara Lee		Nov 18, 2011
D-NC	Brad Miller		Nov 18, 2011
R-MI	Candice S. Miller		Nov 18, 2011
D-MI	Dale E. Kildee		Nov 18, 2011
D-OK	Dan Boren		Nov 18, 2011
D-IL	Daniel Lipinski		Nov 18, 2011
R-WA	David G. Reichert		Nov 18, 2011
D-MD	Donna F. Edwards		Nov 18, 2011
D-AZ	Ed Pastor		Nov 18, 2011
D-DC	Eleanor Holmes Norton		Nov 18, 2011
D-MO	Emanuel Cleaver		Nov 18, 2011
D-RI	James R. Langevin		Nov 18, 2011
D-UT	Jim Matheson		Nov 18, 2011
D-WA	Jim McDermott		Nov 18, 2011
R-SD	Kristi L. Noem		Nov 18, 2011
D-IA	Leonard L. Boswell		Nov 18, 2011
D-CA	Lynn C. Woolsey		Nov 18, 2011
D-OH	Marcy Kaptur		Nov 18, 2011
D-HI	Mazie K. Hirono		Nov 18, 2011
D-CA	Mike Thompson		Nov 18, 2011
D-NJ	Rush Holt		Nov 18, 2011
D-CA	Susan A. Davis		Nov 18, 2011
R-PA	Tim Murphy		Nov 18, 2011
R-IL	Timothy V. Johnson		Nov 18, 2011
R-FL	Vern Buchanan		Nov 18, 2011
R-OH	Bill Johnson		Nov 22, 2011
R-MO	Billy Long		Nov 22, 2011
D-IN	Joe Donnelly		Nov 22, 2011
R-NV	Joseph J. Heck		Nov 22, 2011
D-VA	Robert C. "Bobby" Scott		Nov 22, 2011
D-TX	Silvestre Reyes		Nov 22, 2011
D-AL	Terri A. Sewell		Nov 22, 2011
D-NJ	Albio Sires		Nov 29, 2011
D-MD	C. A. Dutch Ruppersberger		Nov 29, 2011
D-RI	David N. Cicilline		Nov 29, 2011
D-CA	Doris O. Matsui		Nov 29, 2011
D-CA	Fortney Pete Stark		Nov 29, 2011
R-VA	Frank R. Wolf		Nov 29, 2011
R-SC	Jeff Duncan		Nov 29, 2011
R-PA	Jim Gerlach		Nov 29, 2011
D-FL	Kathy Castor		Nov 29, 2011
D-OR	Kurt Schrader		Nov 29, 2011
R-NJ	Leonard Lance		Nov 29, 2011
R-KS	Lynn Jenkins		Nov 29, 2011
D-OH	Marcia L. Fudge		Nov 29, 2011
D-CA	Michael M. Honda		Nov 29, 2011
R-ID	Raul R. Labrador		Nov 29, 2011
D-NY	Steve Israel		Nov 29, 2011
R-NC	Sue Wilkins Myrick		Nov 29, 2011
R-MO	Vicky Hartzler		Nov 29, 2011
D-OH	Betty Sutton		Nov 30, 2011
R-TX	Bill Flores		Nov 30, 2011
R-CA	Brian P. Bilbray		Nov 30, 2011
D-NY	Carolyn McCarthy		Nov 30, 2011
D-VA	Gerald E. Connolly		Nov 30, 2011
R-FL	Jeff Miller		Nov 30, 2011
D-KY	John A. Yarmuth		Nov 30, 2011
R-NV	Mark E. Amodei		Nov 30, 2011
D-PA	Mark S. Critz		Nov 30, 2011
R-OH	Robert E. Latta		Nov 30, 2011
D-CA	Sam Farr		Nov 30, 2011
D-MI	Sander M. Levin		Nov 30, 2011
D-FL	Theodore E. Deutch		Nov 30, 2011
R-FL	Thomas J. Rooney		Nov 30, 2011
R-FL	C. W. Bill Young		Dec 1, 2011
R-LA	Jeffrey M. Landry		Dec 1, 2011
D-NC	Mike McIntyre		Dec 1, 2011
R-AZ	Paul A. Gosar		Dec 1, 2011
D-NY	Paul Tonko		Dec 1, 2011
R-WV	Shelley Moore Capito		Dec 1, 2011
R-LA	Steve Scalise		Dec 1, 2011
R-AR	Tim Griffin		Dec 1, 2011
R-IN	Todd Young		Dec 1, 2011
D-CA	Xavier Becerra		Dec 1, 2011
D-KY	Ben Chandler		Dec 2, 2011
R-MO	Blaine Luetkemeyer		Dec 2, 2011
R-FL	Cliff Stearns		Dec 2, 2011
R-FL	David Rivera		Dec 2, 2011
R-FL	Gus M. Bilirakis		Dec 2, 2011
D-GA	Henry C. "Hank" Johnson, Jr.		Dec 2, 2011
R-IL	Joe Walsh		Dec 2, 2011
D-AR	Mike Ross		Dec 2, 2011
D-WI	Ron Kind		Dec 2, 2011
R-CO	Scott R. Tipton		Dec 2, 2011
D-MA	Stephen F. Lynch		Dec 2, 2011
D-OH	Tim Ryan		Dec 2, 2011
D-TX	Al Green		Dec 6, 2011
R-FL	Bill Posey		Dec 6, 2011
D-NY	Charles B. Rangel		Dec 6, 2011
R-NJ	Christopher H. Smith		Dec 6, 2011
D-CT	Christopher Murphy		Dec 6, 2011
D-CA	George Miller		Dec 6, 2011
D-TX	Henry Cuellar		Dec 6, 2011
R-NC	Howard Coble		Dec 6, 2011
D-IL	Janice D. Schakowsky		Dec 6, 2011
D-CA	Janice Hahn		Dec 6, 2011
R-AZ	Jeff Flake		Dec 6, 2011
R-NE	Jeff Fortenberry		Dec 6, 2011
D-CA	Jim Costa		Dec 6, 2011
D-GA	John Lewis		Dec 6, 2011
R-TX	John R. Carter		Dec 6, 2011
D-MA	John W. Olver		Dec 6, 2011
D-CA	Laura Richardson		Dec 6, 2011
D-CA	Maxine Waters		Dec 6, 2011
D-MA	Michael E. Capuano		Dec 6, 2011
D-VT	Peter Welch		Dec 6, 2011
R-VA	Robert J. Wittman		Dec 6, 2011
R-LA	Rodney Alexander		Dec 6, 2011
R-NJ	Rodney P. Frelinghuysen		Dec 6, 2011
D-CT	Rosa L. DeLauro		Dec 6, 2011
D-TX	Ruben Hinojosa		Dec 6, 2011
D-NJ	Steven R. Rothman		Dec 6, 2011
R-PA	Todd Russell Platts		Dec 6, 2011
D-PA	Allyson Y. Schwartz		Dec 7, 2011
D-IN	André Carson		Dec 7, 2011
D-IA	Bruce L. Braley		Dec 7, 2011
R-PA	Charles W. Dent		Dec 7, 2011
D-IL	Danny K. Davis		Dec 7, 2011
D-NY	Edolphus Towns		Dec 7, 2011
D-MA	Edward J. Markey		Dec 7, 2011
R-CA	Jeff Denham		Dec 7, 2011
D-NY	Jerrold Nadler		Dec 7, 2011
R-OH	Jim Jordan		Dec 7, 2011
R-MO	Jo Ann Emerson		Dec 7, 2011
D-CT	John B. Larson		Dec 7, 2011
R-IL	John Shimkus		Dec 7, 2011
R-PA	Michael G. Fitzpatrick		Dec 7, 2011
R-CO	Mike Coffman		Dec 7, 2011
D-WV	Nick J. Rahall II		Dec 7, 2011
D-NY	Nita M. Lowey		Dec 7, 2011
R-ND	Rick Berg		Dec 7, 2011
D-NV	Shelley Berkley		Dec 7, 2011
D-WI	Tammy Baldwin		Dec 7, 2011
R-WI	Thomas E. Petri		Dec 7, 2011
R-MI	Tim Walberg		Dec 7, 2011
R-LA	Charles W. Boustany, Jr.		Dec 8, 2011
D-CA	Dennis A. Cardoza		Dec 8, 2011
D-CO	Ed Perlmutter		Dec 8, 2011
D-NY	Eliot L. Engel		Dec 8, 2011
R-CA	Elton Gallegly		Dec 8, 2011
D-AS	Eni F. H. Faleomavaega		Dec 8, 2011
R-MN	Erik Paulsen		Dec 8, 2011
D-NC	G. K. Butterfield		Dec 8, 2011
R-OH	Jean Schmidt		Dec 8, 2011
D-CA	Jerry McNerney		Dec 8, 2011
D-CA	Joe Baca		Dec 8, 2011
D-CA	John Garamendi		Dec 8, 2011
D-MD	John P. Sarbanes		Dec 8, 2011
D-NY	Joseph Crowley		Dec 8, 2011
R-PA	Patrick Meehan		Dec 8, 2011
D-PA	Robert A. Brady		Dec 8, 2011
D-NJ	Robert E. Andrews		Dec 8, 2011
R-TN	Scott DesJarlais		Dec 8, 2011
R-SC	Tim Scott		Dec 8, 2011
D-CA	Zoe Lofgren		Dec 8, 2011
R-NY	Ann Marie Buerkle		Dec 13, 2011
R-CO	Cory Gardner		Dec 13, 2011
D-CO	Diana DeGette		Dec 13, 2011
R-MI	Fred Upton		Dec 13, 2011
D-CA	Howard L. Berman		Dec 13, 2011
R-SC	Joe Wilson		Dec 13, 2011
R-NJ	Jon Runyan		Dec 13, 2011
D-GU	Madeleine Z. Bordallo		Dec 13, 2011
D-MO	Russ Carnahan		Dec 13, 2011
R-IA	Tom Latham		Dec 13, 2011
D-TX	Eddie Bernice Johnson		Dec 14, 2011
R-NH	Frank C. Guinta		Dec 14, 2011
D-MO	Wm. Lacy Clay		Dec 14, 2011
D-WA	Jay Inslee		Dec 15, 2011
D-MA	John F. Tierney		Dec 15, 2011
R-TX	Sam Johnson		Dec 16, 2011
D-FL	Debbie Wasserman Schultz		Dec 19, 2011
D-TX	Charles A. Gonzalez		Dec 20, 2011
R-FL	Ileana Ros-Lehtinen		Dec 20, 2011
R-NY	Christopher P. Gibson		Jan 10, 2012
R-MI	Thaddeus G. McCotter		Jan 10, 2012
D-IL	Jerry F. Costello		Jan 17, 2012
R-SC	Trey Gowdy		Jan 17, 2012
D-NJ	Bill Pascrell, Jr.		Jan 23, 2012
R-VA	J. Randy Forbes		Jan 23, 2012
R-AR	Eric A. "Rick" Crawford		Jan 25, 2012
D-CA	Judy Chu		Jan 25, 2012
D-PR	Pedro R. Pierluisi		Jan 25, 2012
D-NJ	Frank Pallone, Jr.		Jan 31, 2012
D-NY	Jose E. Serrano		Jan 31, 2012
R-TX	Kenny Marchant		Jan 31, 2012
D-CA	Loretta Sanchez		Jan 31, 2012
R-TX	Michael T. McCaul		Jan 31, 2012
R-NY	Robert L. Turner		Jan 31, 2012
D-MD	Steny H. Hoyer		Jan 31, 2012
D-MA	William R. Keating		Jan 31, 2012
D-MS	Bennie G. Thompson		Feb 1, 2012
D-LA	Cedric L. Richmond		Feb 1, 2012
D-NJ	Donald M. Payne		Feb 1, 2012
D-VI	Donna M. Christensen		Feb 1, 2012
D-FL	Frederica S. Wilson		Feb 1, 2012
D-WI	Gwen Moore		Feb 1, 2012
D-CA	Henry A. Waxman		Feb 1, 2012
D-SC	James E. Clyburn		Feb 1, 2012
D-CA	Karen Bass		Feb 1, 2012
D-CA	Linda T. Sánchez		Feb 1, 2012
D-CA	Lucille Roybal-Allard		Feb 1, 2012
D-NY	Nydia M. Velázquez		Feb 1, 2012
D-GA	Sanford D. Bishop, Jr.		Feb 1, 2012
D-TX	Sheila Jackson Lee		Feb 1, 2012
R-MO	W. Todd Akin		Feb 1, 2012
D-PA	Chaka Fattah		Feb 2, 2012
R-VA	E. Scott Rigell		Feb 2, 2012
D-MP	Gregorio Kilili Camacho Sablan		Feb 2, 2012
R-PA	Joseph R. Pitts		Feb 2, 2012
R-KS	Kevin Yoder		Feb 2, 2012
D-WA	Norman D. Dicks		Feb 2, 2012
D-MA	Richard E. Neal		Feb 2, 2012
R-MN	Michele Bachmann		Feb 3, 2012
D-IN	Peter J. Visclosky		Feb 3, 2012
R-TN	Charles J. "Chuck" Fleischmann		Feb 6, 2012
R-MD	Roscoe G. Bartlett		Feb 6, 2012
D-OR	Suzanne Bonamici		Feb 8, 2012
D-NY	Yvette D. Clarke		Feb 9, 2012

Committees 6

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Financial Services Committee	Referred Mar 17, 2011Discharged Mar 30, 2011Re-referred Mar 30, 2011Hearings Dec 6, 2011
House	Agriculture Committee	Referred Mar 17, 2011Discharged Mar 30, 2011Re-referred Mar 30, 2011
	General Farm Commodities, Risk Management, and Credit Subcommittee	Referred Mar 29, 2011
House	Committee on House Administration	Referred Mar 17, 2011Discharged Mar 30, 2011Re-referred Mar 30, 2011
House	Judiciary Committee	Referred Mar 17, 2011Discharged Mar 30, 2011Re-referred Mar 30, 2011
	Constitution and Limited Government Subcommittee	Referred Jun 1, 2011
House	Ethics Committee	Referred Mar 17, 2011Discharged Mar 30, 2011Re-referred Mar 30, 2011
House	Rules Committee	Re-referred Mar 30, 2011

Actions 13

Everything that happened, newest first.

Feb 1, 2012Motion to Discharge Committee filed by Mr. Walz (MN). Petition No: 112-3. (<a href="http://clerk.house.gov/112/lrc/pd/petitions/DisPet0003.xml ">Discharge petition</a> text with signatures.)
Dec 6, 2011Committee Hearings Held.
Jun 1, 2011Referred to the Subcommittee on the Constitution.
Mar 29, 2011Referred to the Subcommittee on General Farm Commodities and Risk Management.
Mar 29, 2011RE-REFERRAL - Mr. Bachus asked unanimous consent that H.R. 1148 be re-referred primarily to the Committee on Financial Services and additionally to the Committees on Agriculture, House Administration, the Judiciary, Ethics and Rules. Agreed to without objection.

Show all 13 actions

In the Congressional Record 13

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

Where	In the Record	Members	Date
Extensions	Debate and remarks E201	Rush Holt D-NJ	Feb 15, 2012
House	Debate and remarks H670Discharge petition H694	Keith Ellison D-MN	Feb 9, 2012
House	Debate and remarks H594–H599, H623–H625	Carolyn B. Maloney D-NY, David Loebsack D-IA, Jared Polis D-CO, Louise McIntosh Slaughter D-NY, Richard B. Nugent R-FL, Rob Woodall R-GA, Sheila Jackson Lee D-TX, Suzanne Bonamici D-OR, Timothy J. Walz D-MN	Feb 8, 2012
House	Debate and remarks H463Discharge petition H476	Eric Cantor R-VA, Steny H. Hoyer D-MD	Feb 3, 2012
House	Debate and remarks H381, H385, H387	James A. Himes D-CT, Richard B. Nugent R-FL, Vern Buchanan R-FL	Feb 2, 2012

Show all 13 days

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: This bill is enacted pursuant to Sections 5 and 8 of Article I of the United States Constitution.

The sponsor’s statement, as printed in the page H1985.

Printed hearings 1

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

Number	Hearing	Committee	Held
Serial No. 112-90	H.R. 1148, THE STOP TRADING ON CONGRESSIONAL KNOWLEDGE ACT112 pages	Financial Services Committee	Dec 6, 2011

Related bills 3

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
S 1871	Stop Trading on Congressional Knowledge Act	Related bill	Dec 1, 2011
S 1903	Stop Trading on Congressional Knowledge Act	Related bill	Dec 1, 2011
S 2038	STOCK Act	Related bill	Dec 3, 2012

Titles 3

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To prohibit commodities and securities trading based on nonpublic information relating to Congress, to require additional reporting by Members and employees of Congress of securities transactions, and for other purposes.
Short Titles as Introduced: Stop Trading on Congressional Knowledge Act
Popular Titles: STOCK bill ("STOCK Act")

Subjects

Assigned by the Library of Congress. Policy area: Government Operations and Politics.

Text 1

Each version as it was printed, newest first.

Mar 17, 2011Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.