United States HR 7008: Stop Insider Trading Act

Bill Text

II
Calendar No. 548
119TH CONGRESS
2D SESSION H. R. 7008
IN THE SENATE OF THE UNITED STATES
JULY 23, 2026
Received
AUGUST 5, 2026
Read the first time
AUGUST 6, 2026
Read the second time and placed on the calendar
AN ACT
To amend chapter 131 of title 5 to require certain restric-
tions on stocks for Members of Congress and their
spouses and dependents, and for other purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
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SECTION 1. SHORT TITLE. 1
This Act may be cited as the ‘‘Stop Insider Trading 2
Act’’. 3
SEC. 2. RESTRICTIONS ON COVERED INVESTMENTS. 4
(a) TABLE OF CONTENTS.—The table of contents for 5
chapter 131 of title 5, United States Code, is amended 6
by adding at the end the following: 7
‘‘SUBCHAPTER IV—RESTRICTIONS ON COVERED INVESTMENTS
‘‘13151. Definitions.
‘‘13152. Restrictions on covered investments.
‘‘13153. Enforcement.’’.
(b) RESTRICTIONS.—Chapter 131 of title 5, United 8
States Code, is amended by adding at the end a new sub-9
chapter: 10
‘‘SUBCHAPTER IV—RESTRICTIONS ON 11
COVERED INVESTMENTS 12
‘‘§ 13151. Definitions 13
‘‘In this subchapter: 14
‘‘(1) COVERED INDIVIDUAL.—The term ‘cov-15
ered individual’ means any of the following: 16
‘‘(A) A Member of Congress, as defined in 17
section 13101. 18
‘‘(B) A dependent child (as defined in sec-19
tion 13101) or a spouse of a Member of Con-20
gress. 21
‘‘(2) COVERED INVESTMENT.— 22
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‘‘(A) IN GENERAL.—The term ‘covered in-1
vestment’ means a security issued by a publicly 2
traded company or any comparable economic 3
interest acquired through synthetic means, such 4
as the use of a derivative, including an option, 5
warrant, or other similar means. 6
‘‘(B) EXCLUSION.—The term ‘covered in-7
vestment’ does not include— 8
‘‘(i) an excepted investment fund (as 9
described in section 13104(f)(8)); 10
‘‘(ii) any other fund that would be an 11
excepted investment fund but for the fact 12
that the fund does not meet the diversifica-13
tion requirement solely because the fund is 14
concentrated in— 15
‘‘(I) the United States; or 16
‘‘(II) the State, territory, or Dis-17
trict of residence of the covered indi-18
vidual who owns the fund; 19
‘‘(iii) an interest in a small business 20
concern as defined under section 3 of the 21
Small Business Act (15 U.S.C. 632); or 22
‘‘(iv) investments held in a trust if no 23
covered individual has any authority over a 24
trustee of the trust, including the authority 25
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to appoint, replace, or direct the actions of 1
such a trustee, and the trustee is not the 2
spouse, child, parent, or sibling of a Mem-3
ber of Congress. 4
‘‘(3) PUBLICLY TRADED COMPANY.—The term 5
‘publicly traded company’ means an issuer that has 6
a class of securities registered under section 12 of 7
the Securities Exchange Act of 1934 (15 U.S.C. 8
78l). 9
‘‘(4) SECURITY.—The term ‘security’ has the 10
meaning given the term in section 3(a) of the Secu-11
rities Exchange Act of 1934 (15 U.S.C. 78c(a)). 12
‘‘(5) SUPERVISING ETHICS OFFICE.—The term 13
‘supervising ethics office’ has the meaning given the 14
term in section 13101. 15
‘‘§ 13152. Restrictions on covered investments 16
‘‘(a) CONDUCT DURING FEDERAL SERVICE.—Except 17
as described in subsection (c), no covered individual may 18
purchase a covered investment. 19
‘‘(b) ADVANCED NOTICE REQUIREMENT.— 20
‘‘(1) IN GENERAL.—No covered individual shall 21
sell a covered investment, unless a notice of intent 22
to sell the covered investment is made by the Mem-23
ber of Congress and publicly disclosed at least 7 cal-24
endar days, and no more than 14 calendar days, 25
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prior to the sale in accordance with the requirements 1
of this subsection. 2
‘‘(2) CONTENTS OF NOTICE.—The notice under 3
paragraph (1) shall include the following: 4
‘‘(A) The projected date of sale of a cov-5
ered investment. 6
‘‘(B) A description of such sale. 7
‘‘(C) The number of shares in such sale. 8
‘‘(3) WITHDRAWAL.—The notice under para-9
graph (1) shall be withdrawn by the Member of Con-10
gress who filed it, prior to the close of the expiration 11
of the notice, if the covered individual determines 12
not to sell the covered investment. 13
‘‘(4) FILING.—A Member of Congress shall file 14
the notice under paragraph (1) for each intended 15
sale by the Member, or the spouse or dependent 16
child of the Member, with