What is the STOCK Act? Why are SESers up in arms?

We are hearing a LOT of concern out there about the STOCK Act-- the Stop 

Trading on Congressional Knowledge Act. This is the bill -- now law -- designed to deal with lawmakers using inside from making money off of that information... essentially, it makes insider trading by lawmakers illegal. Which is a good thing...

But it didn’t stop there. The bill also requires that members of the Senior Executive Service to post their financial disclosures online... and it broadens those financial disclosures. The Senior Executive Association has wrote a letter protesting the provision.

Should the SES be up in arms?

Bill Bransford is a partner at Shaw Bransford & Roth. He is also the General Counsel to the Senior Executives AssociationBill told Chris Dorobek on the DorobekINSIDER program why this new law is a problem for SESers. 

Bill Bransford talks STOCK Act by cdorobek

The Senior Executive Association says:

  • Putting these disclosure forms on the Internet would appear to be "a gross violation of the spirit of the Privacy Act”
  • Supervisors could be subject to "unwarranted personal scrutiny by their subordinates, causing tension and problems in the workplace," 
  • Foreign interests, including terrorists, could get access to information on federal employees serving abroad.

So what do you think...does the STOCK Act go too far?

To listen to Bill's full interview you can catch the full radio show at GovLoop Insights or your can subscribe to our itunes channel.

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