The House Financial Services Committee announced today that on Monday, July 13, 2009, the Subcommittee on Oversight and Investigations will conduct a hearing on “Preventing Unfair Trading by Government Officials.” The witness list has yet to be determined.
The hearing will focus on the issue of insider trading by Congress, which is now the subject of a House bill (the “Stop Trading on Congressional Knowledge Act”), as well as this recent column in Compliance Week. The Washington Independent reports that support on Capitol Hill for the bill “has been less than enthusiastic. Indeed, only four of 435 House members have endorsed the proposal, leaving even public-interest advocates to write off its chances of going anywhere.”
Read the Washington Independent article
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[...] hearing on “Preventing Unfair Trading by Government Officials.” As previously discussed here, the hearing will focus on the issue of insider trading by Congress, which is now the subject of a [...]