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According to Senator Elizabeth Warren, the House bill \u201cwon\u2019t solve the problem\u201c of insider trading in Congress as lawmakers will still be allowed to own and sell stocks.<\/p>\n
The US House of Representatives has passed a bill that would ostensibly prohibit members of Congress, their spouses and dependent children from purchasing publicly traded stocks.<\/p>\n
In a 232-198 vote in the House on Wednesday, lawmakers approved<\/a> the Stop Insider Trading Act, sending the bill to the Senate for consideration. Representative Bryan Steil, the Wisconsin lawmaker who sponsored the bill, said<\/a> that the legislation \u201censures no lawmaker can profit off of insider information\u201d and \u201cinstitutes strict penalties for any violation.\u201d <\/p>\n \u201cWe have not had a bill on the House floor on this topic with this opportunity before,\u201d said Steil from the House floor on Wednesday, describing the penalties:<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n