A proposed ban on lawmakers trading stocks failed in the House, with Nancy Pelosi voting no amid ongoing disclosure loopholes.
The U.S. House voted against a bill to ban congressional stock trading, maintaining a system where lawmakers disclose rather than prohibit trades. Nancy Pelosi (D-Calif.) opposed the measure, which aimed to close gaps in the 2012 STOCK Act requiring trades over $1,000 to be reported within 45 days.
The STOCK Act, intended to curb insider trading, has faced criticism for weak enforcement. No lawmaker has been prosecuted under the law despite documented violations, per reports. Two ETFs now track congressional trades, turning disclosure into an investable strategy.
The vote underscores persistent ethical concerns as lawmakers retain the ability to trade while shaping financial regulations.