The Prohibit Insider Trading Act aims to prevent and penalize insider trading by prohibiting the use of nonpublic information for trading securities. The bill establishes clear guidelines on what constitutes illegal insider trading and enhances transparency in financial markets. It imposes stricter penalties on individuals found guilty of engaging in such activities, aiming to uphold fair and equitable practices in the stock market. This legislation seeks to promote investor confidence, protect market integrity, and ensure a level playing field for all participants in the financial industry.
2023-02-21: Introduced in House
2023-02-21: Referred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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