{"id":1655979,"date":"2022-09-24T07:56:38","date_gmt":"2022-09-24T11:56:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1655979"},"modified":"2022-09-24T07:56:51","modified_gmt":"2022-09-24T11:56:51","slug":"meaningful-penalties-bill-banning-members-of-congress-and-scotus-from-stock-trading-takes-shape","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/meaningful-penalties-bill-banning-members-of-congress-and-scotus-from-stock-trading-takes-shape\/","title":{"rendered":"\u2018Meaningful Penalties\u2019: Bill Banning Members of Congress and SCOTUS From Stock Trading Takes Shape"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmeaningful-penalties-bill-banning-members-of-congress-and-scotus-from-stock-trading-takes-shape%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1655979&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Long-anticipated legislation that would ban lawmakers and other senior government officials from <a href=\"https:\/\/www.theepochtimes.com\/t-trading\">trading<\/a> <a href=\"https:\/\/www.theepochtimes.com\/t-stocks\">stocks<\/a> got a boost on Thursday, as House Democrats released a legislative framework that seeks to close loopholes, cut conflicts of interest, and make penalties for non-compliance more painful.<\/p>\n<p>Rep. Zoe Lofgren (D-Calif.), chair of the Committee on House Administration tasked with reviewing deficiencies in the current financial disclosure system, outlined the framework in a Sept. 22 letter to Democrat colleagues.<\/p>\n<p>\u201cFollowing that review, I believe that a meaningful and effective plan to combat financial conflicts of interest could help restore the public\u2019s faith and trust that our public servants act in the public interest,\u201d Lofgren wrote.<\/p>\n<p> \u2018Are Our Public Officials Acting in the Public Interest?\u2019 <\/p>\n<p>Pressure has been building for some time to reform the current financial disclosure system after media scrutiny of potential conflicts of interest in trading by U.S. government officials and their families. A <a href=\"https:\/\/www.nytimes.com\/interactive\/2022\/09\/13\/us\/politics\/congress-stock-trading-investigation.html\">recent analysis<\/a>\u00a0found that nearly a fifth of Members of Congress or their family members bought or sold financial assets over a three-year span that showed possible conflict of interest.<\/p>\n<p>\u201cThese stories undermine the American people\u2019s faith and trust in the integrity of public officials and our federal government. Members of the public may ask, are our public officials acting in the public interest or their private financial interest?\u201d Lofgren wrote.<\/p>\n<p>The new framework, titled \u201cCombatting Financial Conflicts of Interest and Restoring Public Faith and Trust in Government,\u201d would entail reforming the Stop Trading on Congressional Knowledge Act, or STOCK Act, which was passed in 2012 and allows lawmakers to trade stocks but requires them to disclose such transactions.<\/p>\n<p>One problem with the current disclosure system is paper-based filing that has, at times, seen forms that are practically illegible. The framework addresses that by proposing that all individuals subject to the<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Long-anticipated legislation that would ban lawmakers and other senior government officials from trading stocks got a boost on Thursday, as House Democrats released a legislative framework that seeks to close loopholes, cut conflicts of interest, and make penalties for non-compliance more painful. Rep. Zoe Lofgren (D-Calif.), chair of the Committee on House Administration tasked with [\u2026]<\/p>\n","protected":false},"author":118,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1655979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1655979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1655979"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1655979\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1655979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1655979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1655979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}