In Support of the Adoption of the Ban Conflicted Trading Act, Prohibiting Members of Congress from Owning or Trading in Individual Private Stocks or Sitting on Corporate Boards While in Office
WHEREAS, the Obama Administration approved the Stock Act in April 2012, prohibiting "the use of non-public information for private profit, including trading by members of Congress; and
WHEREAS, there have been members of US Senate and House who have demonstrated their willingness to endanger American lives and livelihoods by delaying informing the public, and demonstrated their willingness to flagrantly violate federal law and regulations to enrich themselves through information they gain explicitly through their role as members of Congress; and
WHEREAS, there is an incredibly long history of U.S. Congressional members engaging in insider trading, particularly before the 2012 STOCK Act; and
WHEREAS, in response, U.S. Reps Raja Krishnamoorthi (D-IL), Rep. Joe Neguse (D-CO), and Rep. Alexandria Ocasio-Cortez are re-introducing the Ban Conflicted Trading Act as a new House Bill (Introduced in the Senate in 2018 by Sen. J. Merkley (D-OR)) that prohibits the ownership or trade of individual private stocks by members of Congress; and
WHEREAS, the Ban Conflicted Trading Act also extends the prohibition of Corporate Board Membership to members of the House (already prohibited for Senators).
THEREFORE, BE IT RESOLVED, that the NAACP advocate for the passage of the Ban Conflicted Trading Act; and
BE IT FINALLY RESOLVED, that the NAACP support the investigation, prosecuting, and/or removal of any and all members of Congress found using insider trading information for private gain.