The U.S. Senate is advancing a bill to restrict insider trading, prohibiting officials from engaging in securities investments while in office.
according to the official website of the U.S. Congress, the 119th Congress bill S.1498, the "Honest Ownership and Non-Immoral Stock Trading Act (HONEST Act)," was included in the Senate legislative calendar on December 10 and has entered the subsequent review stage. The bill was introduced by Republican Senator Josh Hawley in April 2025, has passed the Senate Homeland Security and Governmental Affairs Committee review, and was submitted with amendments.
The core objective of the bill is to prevent insider trading and conflicts of interest among public officials. It proposes to prohibit members of Congress, the President, the Vice President, and certain federal officials from holding or trading financial assets that may pose conflicts of interest during their term, including stocks, derivatives, futures, etc., while exemptions are set for government bonds and broadly diversified funds. The bill also requires relevant personnel to dispose of restricted assets within a specified period and conduct annual compliance disclosures, with violations subject to fines or forfeiture of gains. This legislation is seen as a strengthening supplement to the current STOCK Act, aiming to enhance government transparency and ethical standards, responding to long-standing public concerns about congressional securities trading and potential insider trading issues.
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