I almost missed this: CNN exclusive: Congressional insider trading ban might NOT apply to families
CNN exclusive: Congressional insider trading ban might not apply to families
....CNN uncovered that the law that members of Congress thought they voted for earlier this year isn't exactly as advertised. A loophole could still allow family members of some lawmakers to profit from inside information.
The STOCK Act requires that any trades of $1,000 or more made on or after July 3 have to be reported to the House and Senate within 45 days. But the House and Senate have two completely different interpretations of that rule.
In the Senate, the Ethics Committee released one page of guidelines last month ruling that members and their spouses and dependent children all have to file reports after they make stock or securities trades. But the House Ethics Committee disagreed.
Its 14-page memo notifies House members and aides covered by the law that their spouses and children aren't covered. The Office of Government Ethics, which oversees all federal executive branch employees, sided with the House, informing its employees that their spouses and children don't need to file these periodic reports.
http://www.cnn.com/2012/07/19/politics/stock-act-loophole/
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