S. 3990: Insider Trading Prohibition Act

117th Congress · introduced 2022-04-04 · Finance and Financial Sector · Latest: Committee on Banking, Housing, and Urban Affairs. Hearings held.

federal

Follow this bill, step by step

Where it came from: introduced 2022-04-04 · official record
Who proposed it: Sen. Reed, Jack [D-RI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Committee on Banking, Housing, and Urban Affairs. Hearings held. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Insider Trading Prohibition Act

Plain summary

Insider Trading Prohibition Act This bill generally provides statutory authority for the prohibition against securities trading, as well as related communications to others, by a person who has access to material, nonpublic information and is aware or recklessly disregards that the information is material and nonpublic. Further, that person must either be aware or recklessly disregards that the information has been obtained wrongfully or that the trading would be wrongful. The bill also provides, for purposes of establishing a violation of this prohibition, that it is not necessary for such a person to know specifically how such information was obtained or whether a personal benefit was paid or promised.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Insider Trading Prohibition Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Reed, Jack [D-RI] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Sen. Reed, Jack [D-RI] reported raising $3.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s3990.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>

Record fed-us-cong117-s3990 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117