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H.R. 6401 (116th): Ban Conflicted Trading Act

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About the bill

Should members of Congress be prevented from making financial purchases that virtually every other American is allowed to make?

Context

Reports have emerged of lawmakers potentially information from classified briefings about the covid-19 coronavirus to affect millions of dollars’ worth of stock trades.

Senate Intelligence Committee Chair Richard Burr (R-NC) sold up to $1.7 million of stocks in mid-February, after receiving classified briefings about the virus. Burr claims that he only relied on public information in making the financial decisions, though the Justice Department has opened a probe to investigate.

Sen. Kelly Loeffler (R-GA) also sold up to $18.7 million worth of stocks starting on January 24, the same day that the Senate Health Committee on which she served held a closed-door briefing about the virus.

Members of Congress have …

Sponsor and status

Raja Krishnamoorthi

Sponsor. Representative for Illinois's 8th congressional district. Democrat.

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Last Updated: Mar 26, 2020
Length: 5 pages
Introduced
Mar 26, 2020
116th Congress (2019–2021)
Status
Died in a previous Congress

This bill was introduced on March 26, 2020, in a previous session of Congress, but it did not receive a vote.

Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).

Cosponsors

9 Cosponsors (9 Democrats)

Source

History

Mar 26, 2020
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

H.R. 6401 (116th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 6401. This is the one from the 116th Congress.

This bill was introduced in the 116th Congress, which met from Jan 3, 2019 to Jan 3, 2021. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

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“H.R. 6401 — 116th Congress: Ban Conflicted Trading Act.” www.GovTrack.us. 2020. February 3, 2023 <https://www.govtrack.us/congress/bills/116/hr6401>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.