The U.S. Senate will vote on the “Insider Trading Prohibition Act”.

Deep Tide TechFlow message: On Wednesday, July 23, local time, the U.S. House of Representatives passed a proposal titled the “Insider Trading Prohibition Act” by a vote of 232 to 198. This bill is the first congressional stock-trading ban bill to be voted on during a full session of the House, and it is designed to limit members of Congress and their families from buying and selling stocks. Next, the bill will be submitted to the Senate for deliberation. In this proposed “Insider Trading Prohibition Act,” Republicans put forward moderate constraints: there are no forced liquidation requirements—only a ban on new purchases, while existing holdings may be held long term and sold freely.

Analysis suggests that at the Senate level, an ordinary bill requires 60 votes to end a lengthy debate; moreover, Republicans themselves do not hold an absolute majority, so they lack the required number of seats. At the same time, Democrats may continue to block the bill with unanimous votes, and the bill could ultimately stall in the Senate. In any case, this remains an important milestone for the United States to strengthen transaction management for government personnel. (First Finance)