WASHINGTON (AP) — Members of Congress, battling single digit approval ratings, are paying attention to the perception that some lawmakers enriched themselves through insider trading.
Bills in the House and Senate are getting hearings, and the House Ethics Committee has sent out a memo reminding lawmakers that insider trading could violate the law and House rules.
The interest was sparked by a CBS' "60 Minutes" story Nov. 13 that reported members of Congress can legally trade stock based on non-public information. The House memo makes clear this is not true.
The Senate Homeland Security and Governmental Affairs Committee will hold a hearing Thursday on a bill to prohibit insider trading by members of Congress and their employees.
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