The STOCK Act’s Attempt at Clarifying Legislative Ambiguities – Lindsay Heebner
The laws that regulate insider trading have been largely shaped by the courts and the Securities and Exchange Commission (SEC). Laws regulating insider trading and securities may have created a situation of ambiguity as they have not previously expressly stated that members of Congress are also subject to the laws. Trading practices by members of Congress have come under suspicion as indicating the use of insider knowledge. The applicability of the laws to Congress is an issue that has never been explicitly raised and because of that, there were opportunities for clarification.