STOCK Act FAQ — Law, Enforcement & Compliance
Detailed FAQ about the STOCK Act — the law governing congressional stock trading disclosures, enforcement, and proposed reforms.
What is the STOCK Act?
The Stop Trading on Congressional Knowledge Act (STOCK Act) was signed into law on April 4, 2012. It confirms that members of Congress and their staff are not exempt from insider trading laws and requires regular disclosure of securities transactions.
Who does the STOCK Act apply to?
The STOCK Act applies to all members of Congress (House and Senate), their spouses and dependent children, and senior congressional staff. It also applies to the President, Vice President, and certain executive branch employees.
What are the penalties for violating the STOCK Act?
Late filing penalties are $200, which can be waived by the Ethics Committee. More serious violations (actual insider trading) could lead to criminal prosecution under existing securities fraud laws, though enforcement has been rare.
Has anyone been prosecuted under the STOCK Act?
Criminal prosecutions specifically under the STOCK Act have been extremely rare. Several members were investigated for trades ahead of the COVID-19 market crash in early 2020, but most cases were closed without charges.
Are there proposals to ban congressional stock trading?
Yes. Multiple bills have been introduced to ban individual stock trading by members of Congress, requiring them to use blind trusts or broad-based index funds instead. As of 2026, none have passed into law.
Do congressional spouses have to disclose trades?
Yes. The STOCK Act requires disclosure of trades by spouses and dependent children. These are filed under the member's name.
What's the difference between a PTR and an annual financial disclosure?
PTRs (Periodic Transaction Reports) disclose individual trades within 45 days. Annual Financial Disclosures provide a complete picture of a member's financial holdings once per year.
How can I access raw STOCK Act filings?
Senate filings: efdsearch.senate.gov. House filings: disclosures-clerk.house.gov. These are public records. The Insiders Lab automates collection and normalization of these filings.
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All data from official US government STOCK Act filings. Not financial advice. Terms | NFA Disclaimer