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The Reliance share switching scandal, gross disappointment with Morgan Stanley’s Mutual Fund issue, misdemeanors of the so-called plantation companies and the turbulence in the NBFCs with the CRB group in the vanguard hurt the secondary market and further eroded investors’ trust in the stock market. Primary market scam of the mid-1990s, an important one in this sequence, which meant unscrupulous fly-by-night promoters made good with public money and some of them even ‘vanished’ after collecting funds from the public, severely shook the confidence of the individual investors. In addition, communal disturbances -- the latest being the Gujarat carnage,. | AUTHENTICATED U.S. GOVERNMENT INFORMATION s GPO S. 2038 One Hundred Twelfth Congress of the United States of America AT THE SECOND SESSION Begun and held at the City of Washington on Tuesday the third day of January two thousand and twelve An Act To prohibit Members of Congress and employees of Congress from using nonpublic information derived from their official positions for personal benefit and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled SECTION 1. SHORT TITLE. This Act may be cited as the Stop Trading on Congressional Knowledge Act of2012 or the STOCK Act . SEC. 2. DEFINITIONS. In this Act 1 Member of congress. The term Member of Congress means a member of the Senate or House of Representatives a Delegate to the House of Representatives and the Resident Commissioner from Puerto Rico. 2 Employee of CONGRESS The term employee of Congress means A any individual other than a Member of Congress whose compensation is disbursed by the Secretary of the Senate or the Chief Administrative officer of the House of Representatives and B any other officer or employee of the legislative branch as defined in section 109 11 of the Ethics in Government Act of 1978 5 U.S.C. App. 109 11 . 3 Executive branch employee. The term executive branch employee A has the meaning given the term employee under section 2105 of title 5 United States Code and B includes i the President ii the vice President and iii an employee of the United States Postal Service or the Postal Regulatory Commission. 4 Judicial officer. The term judicial officer has the meaning given that term under section 109 10 of the Ethics in Government Act of 1978 U.S.C. App. 109 10 . 5 Judicial employee. The term judicial employee has the meaning given that term in section 109 8 of the Ethics in Government Act of 1978 5 U.S.C. App. 109 8 . 6 Supervising ethics office. The term supervising ethics office has the meaning given that term in .
