The Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act)provides that "political intelligence" firms,but not Congressional staff,can be liable for trading based on material nonpublic information derived from the officials' positions.

Question

The Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act)provides that "political intelligence" firms,but not Congressional staff,can be liable for trading based on material nonpublic information derived from the officials' positions.​

Quizplus · Accepted Answer

The STOCK Act explicitly states that members of Congress, their staff, and other government employees are not exempt from the insider trading prohibitions under the Securities Exchange Act of 1934, making it clear that using nonpublic information for private profit is illegal, regardless of one's position in government.