Prohibit Insider Trading Act (H.R. 1138)

Where This Stands

Introduced

Committee

Floor Vote

Passed

Signed

Currently in_committee. The next step in the legislative lifecycle is Floor Vote.

Last action

Referred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.Feb 21, 2023

Lead sponsor

Zachary Nunn

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

This legislation would restrict the personal investment activities of federal lawmakers and their spouses, potentially impacting their personal financial portfolios and requiring the divestment of certain assets to avoid conflicts of interest.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Members of Congress

They are prohibited from holding or trading specific financial instruments and must undergo mandatory ethics audits and certification.

Spouses of Members of Congress

They are subject to the same investment prohibitions and financial forfeiture requirements as the members themselves.

What changed

Current stage: in_committee.

What's next

Floor Vote.

Summary

This bill would prohibit members of Congress and their spouses from holding, buying, or selling most stocks, commodities, and other financial investments while in office. It requires members to certify their compliance annually and mandates regular audits by ethics offices, with profits from prohibited trades forfeited to the U.S. Treasury.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Does this bill apply to my retirement savings?

No, investments in the Thrift Savings Plan, as well as diversified mutual funds and exchange-traded funds, are explicitly excluded from the prohibition.

What happens if a member of Congress violates these rules?

They must forfeit any profits from the prohibited transaction to the U.S. Treasury, cannot deduct losses from their taxes, and may face civil fines.

Are spouses of members of Congress included in these restrictions?

Yes, the bill applies the same prohibitions and requirements to the spouses of members of Congress as it does to the members themselves.

Why It Matters

This legislation would restrict the personal investment activities of federal lawmakers and their spouses, potentially impacting their personal financial portfolios and requiring the divestment of certain assets to avoid conflicts of interest.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Related Legislation

hearing_transcript

1976 Congressional Hearings on Foreign Corporate Payments

This document records the September 1976 hearings held by the House Subcommittee on Consumer Protection and Finance regarding proposed legislation to

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Expansion of Ethics Oversight

The bill shifts from voluntary disclosure to a mandatory, audited compliance regime for personal financial holdings of legislators.

Members of Congress Supervising ethics office

Connected Entities

bill_numberH.R. 1138“The Prohibit Insider Trading Act”Map →

organizationHouse Committee on Financial Services Map →

personMr. Stanton“Representative who co-sponsored the bill”Map →

organizationCommittee on Ways and Means“Committee assigned to review the bill”Map →

personMr. Nunn“Representative from Iowa who introduced the bill”Map →

bill_numberPayment Choice Act of 2025 Map →

organizationU.S. Treasury“Recipient of disgorged profits from prohibited transactions”Map →

bill_numberHR Map →

organizationCommittee on House Administration“Committee assigned to review the bill”Map →

Analysis Score

0–100

Significance85
How much this matters to a regular citizen
Controversy75
Intensity of disagreement among stakeholders
Entertainment40
Compellingness for a non-policy-wonk reader
Buzz60
Current news / social attention level