WSJ: US Republicans plan to submit proposal for "anti-insider trading bill"

According to a report by the Wall Street Journal on January 12th, House Republicans, including the Republican leadership, are jointly supporting a stock trading restriction bill, which they believe is the best solution to the long-standing problem of lawmakers potentially profiting from insider information. Representative Brian Steele, a Republican from Wisconsin and chairman of the House Administration Committee, spearheaded the drafting of this bill, which aims to prohibit members of both houses of Congress from purchasing individual stocks. The bill has received support from the House Republican leadership and has won approval from various factions within the Republican Party. This proposal, titled the "Anti-Insider Trading Act," is scheduled to be formally submitted on Monday. However, under this plan, while members of Congress will be prohibited from purchasing new individual stocks, they will still be allowed to buy and sell diversified investment funds.