Congress Passes Scaled Back STOCK Act

[janedrake]

http://www.cbsnews.com/8301-503544_162-5...stock-act/

Congress on Thursday passed a final, scaled-down version of the STOCK Act, a bill designed to stop so-called "congressional insider trading."

The measure, which passed in the House last month, would prevent members of Congress from financial market trading based on nonpublic information they have obtained in the course of their congressional work.

The Senate voted to proceed with the bill by an overwhelming vote of 96 to 3 -- far surpassing the 60 votes needed to overcome a filibuster -- and then passed the bill by unanimous agreement. The three senators who voted against proceeding with the bill were Republicans Tom Coburn of Oklahoma, Richard Burr of North Carolina and Charles Grassley of Iowa.

More:
CBS News:
http://www.cbsnews.com/8301-503544_162-5...-stock-act

STOCK Act: PDF (Stop Trading On Congressional Knowledge Act)
http://www.gpo.gov/fdsys/pkg/BILLS-112hr...1148ih.pdf