Insider Trading: New Rules Against Unfair Stock Trading
The Insider Trading Prohibition Act is currently in the Senate Committee on Banking, Housing, and Urban Affairs. The bill has not moved since it was referred to this committee on August 6, 2026. It must receive a vote from this committee before it can proceed further.
While the bill has support from several Democrats, it lacks the Republican support needed to pass in a divided Senate.
Govbase has not yet run an impact analysis on this legislation.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4520-4521)
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Senator Jack Reed introduced the Insider Trading Prohibition Act to provide a clear statutory definition of the crime, moving away from the current reliance on judicial interpretations of anti-fraud statutes. The bill targets information obtained through theft, bribery, or hacking.
The newly introduced Insider Trading Prohibition Act (S. 5320) by Sen. Jack Reed aims to distill insider trading into clear rules. It would make it unlawful to trade while aware of material nonpublic information obtained wrongfully, including through hacking or breach of fiduciary duty.
While focusing on the Stop Insider Trading Act (H.R. 7008), the article notes the broader legislative effort to ban members of Congress and their families from trading stocks based on nonpublic information, highlighting the bipartisan but contentious nature of the reforms.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Insider Trading Prohibition Act
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