Summary : House Democrats will propose legislation early next month to ban lawmakers, their spouses and senior staff from trading stocks unless they put their assets in a qualified blind trust.
House Administration Committee Chair Zoe Lofgren (D-Calif.) told Business Insider they were “almost ready to move forward” on the legislation.
The House has already introduced several other bills that would ban, prohibit or limit stock purchase for lawmakers. House Speaker Nancy Pelosi (D-Calif.) tasked the Administration Committee with exploring the idea of overhauling stock trading rules earlier this year.
Pelosi, who last year said she did not support a stock trading ban, changed her mind in February and said she “would like to see it done.”
Her husband, Paul Pelosi — who just sold off his shares of Nvidia ahead of a Senate vote on a bill to bolster U.S. production of semiconductor chips — has been accused of using nonpublic information for stock purchases, which the Speaker has denied.
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