United States 114th Congress Status: Died 1 D cosponsors

HR 1097 — Ban Insider Trading Act of 2015

Last action — Referred to the House Committee on Financial Services.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Ban Insider Trading Act of 2015 This bill amends the Securities Exchange Act of 1934 to make it unlawful to purchase or sell any security, or securities-based swap agreement, that is based upon information that the person knows (or should know) is material inside information. "Inside information" is defined as information that is nonpublic and obtained: illegally, directly or indirectly from an issuer who expects either confidentiality or that it will only be used for a legitimate business purpose, or in violation of a fiduciary duty. "Material information" is defined as information relating to an issuer or to a security which, if it were made public, would likely have a significant effect upon the security's price. Subjects a person to liability to prosecution for trading in prohibited securities while in possession of material nonpublic information if the person, without a legitimate business purpose, discloses intentionally to another person information that the discloser knows (or should know) is material inside information.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 1097 on the official United States source →

Action History

  1. Referred to the House Committee on Financial Services.

  2. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 1097 do?
Ban Insider Trading Act of 2015 This bill amends the Securities Exchange Act of 1934 to make it unlawful to purchase or sell any security, or securities-based swap agreement, that is based upon information that the person knows (or should know) is material inside information. "Inside information" is defined as information that is nonpublic and obtained: illegally, directly or indirectly from an issuer who expects either confidentiality or that it will only be used for a legitimate business purpose, or in violation of a fiduciary duty. "Material information" is defined as information relating to an issuer or to a security which, if it were made public, would likely have a significant effect upon the security's price. Subjects a person to liability to prosecution for trading in prohibited securities while in possession of material nonpublic information if the person, without a legitimate business purpose, discloses intentionally to another person information that the discloser knows (or should know) is material inside information.
Who sponsors HR 1097?
HR 1097 is sponsored by Stephen Lynch (D).
What is the current status of HR 1097?
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 1097?
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Last checked for changes about 14 hours ago · updated continuously

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