US Lawmakers May Face Stock Trading Ban... Speaker Pelosi Orders Drafting of Bill

Nancy Pelosi, Speaker of the U.S. House of Representatives [Photo by Reuters]

[Asia Economy Reporter Jeong Hyunjin] The U.S. Congress has taken a step closer to drafting a bill that would ban stock investments by members of Congress. Nancy Pelosi, Speaker of the U.S. House of Representatives (Democratic Party), who had previously opposed such measures, has shifted her stance as calls for regulation have grown louder, raising expectations that the legislation will move forward more quickly.

According to CNBC and other outlets on the 9th (local time), Speaker Pelosi announced that she instructed the House Rules Committee to push for the creation of a bill banning stock investments by members of Congress. CNBC reported that the bill is expected to be put to a vote before the midterm elections in November this year.

The issue of banning stock trading by U.S. lawmakers has attracted attention over the past few weeks. In the U.S., members of Congress must disclose not only their own investment details but also those of their spouses and dependent children. However, there are currently no restrictions on stock trading itself. CNBC pointed out, "The core issue with stock trading is that lawmakers can receive information that the public cannot easily access, giving them an unfair advantage in the stock market."

The Washington Post (WP) interpreted that while Speaker Pelosi does not fully endorse the bill, her mention that the House Rules Committee is reviewing bills introduced by members suggests her remarks leaned toward the possibility of the bill being processed.

Already, two Democratic senators, Jon Ossoff and Mark Kelly, have introduced legislation that would require members of Congress and their spouses and children to place their stocks in blind trusts, while Democratic Senator Elizabeth Warren and Republican Senator Steve Daines are pushing for even stronger legislation.

This content was produced with the assistance of AI translation services.