Introductory Statement on S. 5320
Senators introduced S. 5320, the Insider Trading Prohibition Act. The bill would write a statutory definition of insider trading into law, making it clearly illegal to trade stocks using material nonpublic information obtained through theft, hacking, or a breach of a duty of trust. Sponsor Jack Reed, joined by Senators Van Hollen, Kim, Alsobrooks, and Blunt Rochester, said current court-made rules are inconsistent and that the bill aims to protect ordinary investors and keep markets fair. This was an introductory statement, with no opposing remarks in the sample.Written by AI from the debate. Updated .
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