News reports on May 26 said the Justice Department notified Loeffler, as well as Sens. This year, news reports revealed that two GOP senators, Richard Burr of North Carolina and Kelly Loeffler of Georgia, dumped between hundreds of thousands and millions of dollars worth of stock after being privately briefed by health officials early in the coronavirus outbreak, prompting a federal investigation and a call for more reforms.

Republicans added the so-called Pelosi provision to prevent government officials from gaining special access to IPOs. Within two days of the IPO, as Congress was considering new credit card regulations, Visa’s stock price rose by $20, or about 45%.įive months later, Congress passed the bipartisan Stop Trading On Congressional Knowledge (STOCK) Act, which prohibits lawmakers from using their insider knowledge to trade stocks. In 2011, '60 Minutes' reported on a transaction by Pelosi’s husband, Paul, involving 5,000 shares of Visa that he bought in the credit card company’s 2008 initial public offering. Insider trading by members of Congress is a special concern for regulators because lawmakers often have privileged access to nonpublic briefings and investigative information that could affect individual companies or industries.

Depending on the circumstances, it can be legal or illegal. Insider trading is when someone uses non-public information to profit from the sale or purchase of a stock.

Zoom stock january 2020