The House approved legislation Wednesday that would bar members of Congress from purchasing individual stocks. The “Stop Insider Trading Act” cleared the House 232 to 198, with the full support of Republicans and 13 Democrats on board.
Under the bill, lawmakers, their spouses, and dependent children are restricted from purchasing individual stocks of, with few exceptions, such as certain investment funds, while in office, New York Post reported.
The bill also proposed that lawmakers, their spouses, and dependent children can’t sell stock without filing notice between 7–14 days in advance. Violators will get hit with a fee and be subject to ethics scrutiny.
Here’s who could be impacted the most if the bill were to ever become law, based on data from Quiver Quantitative:
1. Ro Khanna
Rep. Ro household traded the most frequently — 4,772 times — and the most expensive assets last year, totaling $65.9 million, The New York Post reported, citing Quiver Quantitative.
Khanna’s portfolio of trades appears to be heavily diversified across industrial, tech, financial, health care, and other sectors.
“I do not own or trade stocks and have led the fight to ban stock trading,” Khanna claimed on social media last month.
“My household’s only investments are in a trust that my in-laws set up before marriage, managed independently by a third party trustee in full compliance with the Office of Government Ethics (OGE) and House Rules,” he had reportedly said.
Khanna also penned a detailed Substack explaining his family’s finances and underscoring that his “household’s compliance has been independently verified by the watchdogs who track congressional trading.”
2. Nancy Pelosi
’s household is listed as having made $52,525,000 worth of trades over the past year, spanning 21 occasions, the report claimed.
“Speaker Pelosi does not own any stocks and has no knowledge or subsequent involvement in any transactions,” her spokesperson, Ian Krager, told The Post.
3. Michael McCaul
The retiring former Chairman of the House Foreign Affairs Committee, Rep. Michael McCaul’s (R-Texas) family, reportedly moved some $48 million worth of assets across 980 different trades.
McCaul’s team has previously addressed controversy over his family’s stock trading, noting that his “wife has assets she solely owns, and a third-party manager” makes purchases “without her direction.”
4. Tony Wied
Rep. Tony Wied’s (R-Wis.) household moved some $25.9 million across 19 different trades, with most of the assets coming from the tech sector, the New York Post claimed.
Wied backed the Stop Insider Trading Act, but argued it should’ve gone further to prevent potential corruption on Capitol Hill.
“I plan to support this symbolic gesture when it comes to a vote, but let’s be real — insider trading is already entirely illegal,” Wied told The Post.
“If my colleagues on both sides of the aisle were serious about solving the actual problem, we would have gone much further with this legislation and addressed the real issue plaguing the swamp: career politicians using their connections and insider knowledge to enrich themselves as lobbyists and federal contractors after leaving office,” he said.
5. Gil Cisneros
Rep. Gil Cisneros (D-Calif.) and his family were listed as moving some $12 million on over 1,128 occasions, which included investments in tech, health care and industrials.
“My wife and I have always employed outside financial advisors who have a fiduciary responsibility to maintain a diverse portfolio,” Cisneros told The Post.
“We do not manage the day-to-day trading of our investment portfolio, nor have we ever suggested a trade while serving in Congress or at the Department of Defense,” Cisneros said.
Cisneros further stressed that he has “always complied with all rules and regulations regarding stock trading and financial disclosures” and backs stronger ethics measures.
Other leaders likely to be affected
Quiver Quantitative listed Rep. Chip Roy (R-Texas) as a top trader in Congress, but his office has attributed that to an error in his financial disclosures.
Rounding out the top 10 on the list for sitting lawmakers moving the largest volume of trades last year are: Reps. Cleo Fields (D-La.), Lisa McClain (R-Mich.), Tim Moore (R-NC), Gottheimer and Kevin Hern (R-Okla.), according to data from Quiver Quantitative.
“Chairwoman McClain’s investments are a matter of public record. They have been made in line with all House rules and applicable laws,” House GOP communications director Joe Buccino told The Post about McClain
