At a hearing before the Senate Committee on Banking, Housing, and Urban Affairs, witnesses raised the pros and cons of the proposed Insider Trading Prohibition Act.
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The Congressional Research Service summarized current legal standards for insider trading, and described legislative reform efforts to "codify the elements of the offense and fill perceived gaps in existing doctrine."
In testimony before the U.S. Senate Banking Committee, SEC Chair Gary Gensler weighed in on market structure, predictive data analytics, issuers and issuer disclosure, and funds and investment management.
Senators Jeff Merkley (D-OR), Raphael Warnock (D-GA) and Sherrod Brown (D-OH) introduced a bill that would prohibit members of Congress from trading securities, commodities and futures.
The House of Representatives passed a bill to strengthen the ban against insider trading.