House passes ban on insider trading by Congress
The 417-2 vote Thursday will likely send the bill to a House-Senate conference to reconcile differences with a Senate-passed version of the bill.
The Senate bill included a requirement that people who collect financial information from Congress — and sell it to investment firms — should register like lobbyists and publicly disclose their activities.
House Majority Leader Eric Cantor, a Virginia Republican, substituted instead a study of the so-called political intelligence community. House Democrats and Republican Sen. Charles Grassley of Iowa said that move weakens the bill.
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