ABA Entities Urge Congress to Exclude Career Federal Employees From Stock Act
WASHINGTON, D.C., Dec. 6, 2012 — Four entities within the American Bar Association (the Government and Public Sector Lawyers Division and the Sections of Administrative Law and Regulatory Practice, Public Contract Law, and International Law) submitted comments to the Senate Committee on Homeland Security and Governmental Affairs and the House Committee on Oversight and Government Reform on Dec. 4 urging prompt repeal of those aspects of the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) that apply to career federal employees. The comments explained the deleterious effect that the law’s transaction reporting and Internet posting requirements are already having on career federal employees and described why these requirements are unnecessary. The ABA entities urged Congress to refocus the law on its original intent: helping to assure public confidence in the ethical conduct of members of Congress and their employees.
These views are offered only on behalf of the aforementioned ABA entities. They have not been approved by the ABA House of Delegates or Board of Governors and should not be construed as representing the policy of the American Bar Association.
The letter is available here.
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