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Rep. Chip Roy Regarding His Vote On H.R. 2534 - Insider Trading Prohibition Act

Statement

By: Chip Roy
By: Chip Roy
Date: Dec. 5, 2019
Issues: Finance and Banking Criminal Justice

Rep. Chip Roy released the following statement Thursday afternoon regarding his vote on H.R. 2534 - Insider Trading Prohibition Act:

Today, I voted against legislation regarding insider trading laws because it accomplishes very little, yet in what it does do, it is troublingly vague to the point of being constitutionally questionable and empowers the SEC to exempt companies from insider training.

I also voted to support Rep. Huizenga's amendment that would have contained the scope of this bill's expanded reach. This amendment would ensure prosecution of those who actually use wrongful information to gain a profit, a much better standard than the on adopted.


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