Campaign Event Contract Integrity Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the Campaign Event Contract Integrity Act, aims to prevent insider trading related to political event contracts. It prohibits campaign-affiliated individuals from trading based on nonpublic campaign information and requires covered trading platforms to implement safeguards against such activity. The Commodity Futures Trading Commission (CFTC) will be responsible for enforcing the law and establishing rules to detect and prevent violations.
Key provisions
- Prohibits campaign-affiliated individuals from trading political event contracts while possessing material nonpublic campaign information.
- Requires covered trading platforms to establish policies and procedures to detect and prevent insider trading.
- Mandates disclosure by traders on platforms regarding their affiliation with campaigns or access to confidential information.
- Establishes civil penalties for violations, including fines, disgorgement of profits, and trading bans.
- Authorizes the CFTC to investigate violations and refer criminal matters to the Attorney General.
- Defines key terms such as ‘covered campaign-affiliated individual,’ ‘covered platform,’ and ‘material nonpublic campaign information.’
- Specifies the types of political event contracts covered by the law.
- Requires the CFTC to promulgate rules implementing the Act within 180 days.
Who is affected
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2 on record
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