My bill prohibits members of Congress, their spouses, and their dependent children from purchasing stocks. They also will be required to provide 7-day advanced public notice before selling individual stocks.
If a member violates this law, the penalties will be steep.
For each violation, members will be fined $2,000 or 10% of the value of the stock, whichever is greater. If a member also violates existing insider trading laws, they will face additional criminal penalties.
