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House passes insider trading bill

The House legislation vastly expands the list of felony convictions that would require lawmakers to be ineligible for their government pensions.

By Larry Margasak | Updated on February 09, 2012

WASHINGTON (AP) — The House passed a bill banning Congress and executive branch officials from insider trading, but brushed aside a provision aimed at reining in those who pry financial information from Congress and sell it to investment firms.

Thursday’s 417-2 vote likely sends the legislation to a House-Senate conference, where supporters of the tougher regulation will try to restore the proposal that was included in the version passed by the Senate. Voting against the bill were Reps. John Campbell, R-Calif. and Rep. Rob Woodall, R-Ga.

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