WASHINGTON D.C.- Congressman Mike Lawler (R, NY-17) voted in favor of bipartisan legislation that would ban members of Congress, their spouses and dependent children from buying individual stocks while serving in office.
The Stop Insider Trading Act passed the House by a 231-198 vote and now moves to the Senate for consideration.
The legislation would require lawmakers to publicly disclose planned sales of covered investments between seven and 14 days before a transaction and would impose financial penalties on members who violate the law or fail to divest prohibited investments.
Lawler, an original co-sponsor of the bill, said the measure is intended to strengthen public trust in government.
“If you serve the public, you serve only the public,” Lawler said. “You don’t get to play the market with one hand while writing the rules with the other.”
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