US Congress House Bill 1097 (Prior Session Legislation)

---

Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on February 26 2015 - 25% progression, died in committee
Action: 2015-02-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Ban Insider Trading Act of 2015 This bill amends the Securities Exchange Act of 1934 to make it unlawful to purchase or sell any security, or securities-based swap agreement, that is based upon information that the person knows (or should know) is material inside information. "Inside information" is defined as information that is nonpublic and obtained: illegally, directly or indirectly from an issuer who expects either confidentiality or that it will only be used for a legitimate business purpose, or in violation of a fiduciary duty. "Material information" is defined as information relating to an issuer or to a security which, if it were made public, would likely have a significant effect upon the security's price. Subjects a person to liability to prosecution for trading in prohibited securities while in possession of material nonpublic information if the person, without a legitimate business purpose, discloses intentionally to another person information that the discloser knows (or should know) is material inside information.

Ban Insider Trading Act of 2015

Rep. Stephen Lynch [D-MA]

Date	Chamber	Action
2015-02-26	House	Referred to the House Committee on Financial Services.
2015-02-26	House	Introduced in House

HB1173 (Related) 2015-02-27 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1097/all-info
Text	https://www.congress.gov/114/bills/hr1097/BILLS-114hr1097ih.pdf