WASHINGTON (AP) — New legislation from House Republicans would ban insider trading by thousands of federal officials and bar lawmakers who are convicted of a felony from collecting government pensions.
Part of the bill introduced late Tuesday takes direct aim at House Democratic leader Nancy Pelosi by proposing to ban lawmakers from using their positions to gain special access to initial public offerings of stock. Pelosi has denied that she has done anything like that.
The GOP plan ignores an important part of the Senate's version that would have required "political intelligence" firms to register and file disclosure reports, as lobbyists must. These are companies that try to pick up information from lawmakers, then pass it on to investment firms and their clients.
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