Washington, July 22 -- Congressman Chris Pappas issued the following press release:
After years of advocacy by Congressman Chris Pappas (NH-01), the House today finally passed legislation that will ban members of Congress, their spouses, and dependent children from purchasing new stocks using insider information and personally profiting from their public service. The legislation also requires members of Congress to publicly disclose their intent to sell covered investments seven to fourteen days prior to any sale and establishes enforcement penalties for trading violations, including a fee of at least $2,000 or 10% of the transaction value, whichever is greater, plus any net gains, which must be paid by the member personally.
"For far too ...