A U.S. district judge has issued a temporary injunction for a provision of the STOCK Act that would have required the disclosure of information on financial transactions for about 28,000 federal employees. The provision has been delayed by law until September 30 from its original intended effective date of August 31.
At this point the Stop Trading on Congressional Knowledge Act will only require Congress and their staff to disclose information on any securities trade over $1,000 within 30 days of making it, and would also deny congressional benefits to members or former members convicted on corruptions charges.
An earlier version of the bill intended to require "political intelligence" consultants that sell information they pick up on Capitol Hill to register as lobbyists in an attempt to make this kind of brokering more transparent but the provision was stripped.
