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Wednesday, March 21, 2012

Senate Drops Tougher D.C. Insider Trading Bill

WASHINGTON — Senate leaders on Tuesday abandoned their own, stronger version of legislation to explicitly prohibit members of Congress and other government officials from making investments on insider information. They agreed to accept a scaled down House version instead.

Both chambers overwhelmingly passed different versions of the legislation designed to approve Congress' image, but the Senate included two provisions that were stripped out by the House.

One would have required registration and public reports — similar to those filed by lobbyists — by anyone selling inside information learned from Congress.


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