What’s the Stock Act Law?

What’s the Stock Act? The “Stop Acting on Congressional Knowledge Act of 2012” was signed into law by President Obama on April 4, 2012. It prohibits members and employees of Congress from using nonpublic information for private profit. The Act affirms non-exemption of public employees of the insider trading laws enacted through the U.S. Securities Exchange Act of 1934. The Stock Act law details can be accessed at the Library of Congress.