Press Release

McHenry Bill to Curb Illegal Insider Trading Passes House

Additionally the House passes two other bipartisan Financial services bills

Yesterday, the House of Representatives passed H.R. 624, the Promoting Transparent Standards for Corporate Insiders Act, sponsored by Congressman Patrick McHenry (NC-10), the Ranking Republican on the House Financial Services Committee. H.R. 624 is a bipartisan bill that protects ‘Mom and Pop’ investors from the harmful effects of illegal insider trading and helps the Securities and Exchange Commission (SEC) better understand how to prevent illicit activity.  Watch the speech McHenry delivered to the House floor in support of H.R. 624 by clicking here or on the image below.

The House also overwhelmingly passed two other bipartisan House Financial Services Committee bills, both of which are geared towards responsible oversight to protect the American people. H.R. 502, the FIND Trafficking Act, sponsored by Congressman Juan Vargas (CA-51) and Congresswoman Ann Wagner (MO-2), directs the Government Accountability Office (GAO) to study how virtual currencies are linked to the supply chain for drugs and human trafficking and gives lawmakers insights into how to sever that link. Watch McHenry’s remarks in support of H.R. 502 by clicking here or on the image below.

H.R. 56, the Financial Technology Protection Act, sponsored by Congressman Stephen Lynch (MA-8) and Congressman Ted Budd (NC-13), establishes an Independent Financial Technology Task Force to combat the use of financial technologies, like digital currencies, to fund terrorism. Watch Ranking Member McHenry’s remarks in support of H.R. 56 by clicking here or on the image below.