Reform groups urge Senate to vote "Yes" vote on STOCK Act

January 27, 2012



U.S. Senate

Washington, D.C. 20510

Pass the "Stop Trading on Congressional Knowledge Act"

Dear Senator:

Our organizations - Campaign Legal Center, Citizens for Responsibility and Ethics in Washington, Common Cause, Democracy 21, Public Citizen, Sunlight Foundation, U.S. PIRG - strongly support passage of the "Stop Trading on Congressional Knowledge Act" (STOCK Act) designed to prevent congressional insider trading.

We strongly urge you to vote for this important reform legislation when it is brought to the Senate floor next week and to oppose any amendments to weaken the legislation.

The STOCK Act being submitted to the Senate next week clarifies for the first time that Members of Congress and their staff are subject to the same laws against insider trading that apply to the rest of America.

In addition to specifying that it is against the law for Congress to trade on non-public information gleaned through the course of official business, the STOCK Act also creates an important system of real-time transparency of stock trading activity by members and staff. These transparency provisions are an integral and very important part of the legislation.

President Barack Obama has said he will sign the legislation as soon as it gets to his desk.

We urge you to move expeditiously to enact the legislation without any undermining amendments.

Vote 'YES' on the STOCK Act.

Sincerely,

Campaign Legal Center

Citizens for Responsibility and Ethics in Washington

Common Cause

Democracy 21

Public Citizen

Sunlight Foundation

U.S. PIRG


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