Pelosi wants any stock trading ban to be 'government wide'

Pelosi wants any stock trading ban to be 'government wide'
Pelosi by Gage Skidmore is licensed under CC BY-SA 2.0
House Speaker Nancy Pelosi, D-Calif., said Wednesday the House is making progress on legislation to curb stock tradings in Congress, but added that she's insisting any stock legislation apply to the Supreme Court too.

"It has to be government-wide," Pelosi said Wednesday of the criteria she wants to see in any stock legislation. 

"The third branch of government, the judiciary, has no reporting," Pelosi added at a Capitol news conference. "The Supreme Court has no disclosure. It has no reporting of stock transactions. And it makes important decisions every day."

Pelosi, who was once opposed to a ban on stock trades for members of Congress, has said in recent weeks she's open to restrictions if members want such legislation. She signaled last month she has concerns about the Supreme Court not having to disclose stocks as lawmakers must do now, but her comments Wednesday indicate her demands in shaping the legislation. 

Pelosi also said she wants an increase in fines for violations of the current STOCK Act to serve as a better deterrent. 

Under the STOCK Act, passed in 2012, it's illegal for members of Congress and their families to profit from inside information, and it requires lawmakers to report stock trades to Congress within 45 days. In some recent cases, lawmakers have failed to report their trades altogether.
Pelosi by Gage Skidmore is licensed under CC BY-SA 2.0