Fedblog FedblogFedblog
Government Executive Editor in Chief Tom Shoop, along with other editors and staff correspondents, look at the federal bureaucracy from the outside in.

Would You Be Covered Under the STOCK Act?


As Congress prepares to put the finishing touches on the Stop Trading on Congressional Knowledge Act, some confusion in the legislative language is being highlighted by the nonprofit Project on Government Oversight.

“The House version nearly mirrors the Ethics in Government Act of 1978 in listing the categories of senior executive branch officials and employees who are required to disclose any sale or exchange of $1,000 or more in stocks, bonds, commodities futures, and other forms of securities,” write Suzanne Dershowitz and Angela Canterbury in the watchdog group’s blog.

But the Senate version “refers vaguely to ‘noncareer appointee[s] in the Senior Executive Service…or a similar personnel system for senior employees in the executive branch.’ It is unclear whether a ‘similar personnel system’ would include, for instance, the special pay system at regulatory agencies such as the Securities and Exchange Commission, the Commodity Futures Trading Commission, Consumer Financial Protection Bureau, the Government Accountability Office and others. We can’t see any reason why senior officials at financial regulatory agencies should be exempted from the disclosure requirements.”

POGO also criticizes the Senate version for failing to cover Special Government Employees, who are important because many SGEs serve on federal government advisory committees. The nonprofit watchdog group favors the House approach of allowing the director of the Office of Government Ethics to include any additional officers in the executive branch not expressly mentioned in the act.

Charlie Clark joined Government Executive in the fall of 2009. He has been on staff at The Washington Post, Congressional Quarterly, National Journal, Time-Life Books, Tax Analysts, the Association of Governing Boards of Universities and Colleges, and the National Center on Education and the Economy. He has written or edited online news, daily news stories, long features, wire copy, magazines, books and organizational media strategies.

Close [ x ] More from GovExec

Thank you for subscribing to newsletters from GovExec.com.
We think these reports might interest you:

  • Sponsored by G Suite

    Cross-Agency Teamwork, Anytime and Anywhere

    Dan McCrae, director of IT service delivery division, National Oceanic and Atmospheric Administration (NOAA)

  • Data-Centric Security vs. Database-Level Security

    Database-level encryption had its origins in the 1990s and early 2000s in response to very basic risks which largely revolved around the theft of servers, backup tapes and other physical-layer assets. As noted in Verizon’s 2014, Data Breach Investigations Report (DBIR)1, threats today are far more advanced and dangerous.

  • Sponsored by One Identity

    One Nation Under Guard: Securing User Identities Across State and Local Government

    In 2016, the government can expect even more sophisticated threats on the horizon, making it all the more imperative that agencies enforce proper identity and access management (IAM) practices. In order to better measure the current state of IAM at the state and local level, Government Business Council (GBC) conducted an in-depth research study of state and local employees.

  • Sponsored by Aquilent

    The Next Federal Evolution of Cloud

    This GBC report explains the evolution of cloud computing in federal government, and provides an outlook for the future of the cloud in government IT.

  • Sponsored by LTC Partners, administrators of the Federal Long Term Care Insurance Program

    Approaching the Brink of Federal Retirement

    Approximately 10,000 baby boomers are reaching retirement age per day, and a growing number of federal employees are preparing themselves for the next chapter of their lives. Learn how to tackle the challenges that today's workforce faces in laying the groundwork for a smooth and secure retirement.

  • Sponsored by Hewlett Packard Enterprise

    Cyber Defense 101: Arming the Next Generation of Government Employees

    Read this issue brief to learn about the sector's most potent challenges in the new cyber landscape and how government organizations are building a robust, threat-aware infrastructure

  • Sponsored by Aquilent

    GBC Issue Brief: Cultivating Digital Services in the Federal Landscape

    Read this GBC issue brief to learn more about the current state of digital services in the government, and how key players are pushing enhancements towards a user-centric approach.


When you download a report, your information may be shared with the underwriters of that document.