For Immediate Release Common Cause urges conferees to strengthen STOCK Act

Posted on February 9, 2012

Today's strong, bipartisan vote on the STOCK Act in the House of Representatives is a hopeful sign that members of Congress are serious about ethics reform; but to be truly meaningful, that vote must be followed by quick action in a conference committee to restore key provisions excised by the House leadership, Common Cause said.

"When it goes to the President, this good bill should include rules to bring some transparency to the buying and selling of legislative intelligence," said Bob Edgar, president and CEO of the non-profit government watchdog group. "It's unfortunate that House Republican leaders removed language that would make people engaged in that business register and meet the same requirements as lobbyists in reporting on their activities.

"This ought not to become a partisan issue. I'm encouraged that Sen. Charles Grassley, a Republican, has been particularly outspoken on the need to bring transparency to political intelligence gathering, a Washington growth industry," Edgar added. "When the bill gets to conference, House Republicans should listen to him."

The STOCK Act is designed to strengthen existing laws that ban corporate executives from trading stocks based on information unavailable to the general public; it specifies that lawmakers and executive branch employees who obtain confidential business information through their work cannot use that information to play the markets.

Common Cause is a nonpartisan grassroots organization dedicated to upholding the core values of American democracy. We work to create open, honest, and accountable government that serves the public interest; promote equal rights, opportunity, and representation for all; and empower all people to make their voices heard in the political process.

Office: Common Cause National

Issues: Ethics

Tags: Congressional Ethics

Leave a Comment

Take Action

The Supreme Court gutted a key provision of the Voting Rights Act.

Tell Congress to fix the court’s bad decision!

Take action.


Give Today

Join the Community

Find Common Cause Activists in your area.

Add Me to the Map