Senate Sends President Scaled-Down Bill to Ban Insider Trading by Public Officials
The Senate has given final congressional approval to a scaled-down bill to explicitly ban members of Congress, the president and thousands of other federal workers from profiting from nonpublic information learned on the job.
President Barack Obama has said he would sign the bill.
In an unusual move, the legislation passed unanimously Thursday without a vote on the measure itself. Passage was automatically triggered by a procedural motion that was approved on a 96-3 vote.
The bill would give the public a more frequent look at financial transactions of government officials. A driving force has been Congress’ focus on its own dismal approval ratings.