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:

  • Going Agile:Revolutionizing Federal Digital Services Delivery

    Here’s one indication that times have changed: Harriet Tubman is going to be the next face of the twenty dollar bill. Another sign of change? The way in which the federal government arrived at that decision.

  • Cyber Risk Report: Cybercrime Trends from 2016

    In our first half 2016 cyber trends report, SurfWatch Labs threat intelligence analysts noted one key theme – the interconnected nature of cybercrime – and the second half of the year saw organizations continuing to struggle with that reality. The number of potential cyber threats, the pool of already compromised information, and the ease of finding increasingly sophisticated cybercriminal tools continued to snowball throughout the year.

  • Featured Content from RSA Conference: Dissed by NIST

    Learn more about the latest draft of the U.S. National Institute of Standards and Technology guidance document on authentication and lifecycle management.

  • GBC Issue Brief: The Future of 9-1-1

    A Look Into the Next Generation of Emergency Services

  • GBC Survey Report: Securing the Perimeters

    A candid survey on cybersecurity in state and local governments

  • The New IP: Moving Government Agencies Toward the Network of The Future

    Federal IT managers are looking to modernize legacy network infrastructures that are taxed by growing demands from mobile devices, video, vast amounts of data, and more. This issue brief discusses the federal government network landscape, as well as market, financial force drivers for network modernization.

  • eBook: State & Local Cybersecurity

    CenturyLink is committed to helping state and local governments meet their cybersecurity challenges. Towards that end, CenturyLink commissioned a study from the Government Business Council that looked at the perceptions, attitudes and experiences of state and local leaders around the cybersecurity issue. The results were surprising in a number of ways. Learn more about their findings and the ways in which state and local governments can combat cybersecurity threats with this eBook.


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