House Passes STOCK Act without "Political Intelligence Consultant" Requirements
The U.S. House of Representatives overwhelmingly approved its version of the Stop Trading on Congressional Knowledge ("STOCK") Act by a 417-2 vote. Unlike the Senate-passed version described in Caplin & Drysdale's earlier client alert, the House version of the STOCK Act does not include new registration and reporting obligations for "political intelligence consultants." Instead, the House version only calls for a Comptroller General/Congressional Research Service study on the activities of "political intelligence consultants."
A compromise on the "political intelligence consultants" provision may yet be included in the final STOCK Act after Senate and House Members reconcile the two different versions of the bill. Caplin & Drysdale will continue to follow this legislation closely and provide timely updates to our clients.
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