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H. Rept. 116-219 1 (2019-09-27)

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116TH CONGRESS I
   1st Session  J HOUSE OF REPRESENTATIVES


REPORT
116-219


          INSIDER TRADING PROHIBITION ACT



SEPTEMBER 27, 2019.-Committed to the Committee of the Whole House on the
              State of the Union and ordered to be printed


Ms. WATERS,


from the Committee on Financial Services,
  submitted the following


                         REPORT

                           together with

                        MINORITY VIEWS

                        [To accompany H.R. 2534]

          [Including cost estimate of the Congressional Budget Office]

  The Committee on Financial Services, to whom was referred the
bill (H.R. 2534) to amend the Securities Exchange Act of 1934 to
prohibit certain securities trading and related communications by
those who possess material, nonpublic information, having consid-
ered the same, report favorably thereon with an amendment and
recommend that the bill as amended do pass.

                             CONTENTS
                                                                 Page
Purpose and Sum m ary   ...........................................................................................  3
Background    and  Need  for  Legislation  ...................................................................  3
Section-by-Section   A nalysis  ...................................................................................  4
H e a rin g s  ...................................................................................................................  5
C om m ittee  C onsideration  .......................................................................................  6
C om m ittee  V otes  ......................................................................................................  6
Statement of Oversight Findings and Recommendations of the Committee ...... 6
Statement of Performance Goals and Objectives         ..................................................  6
New Budget Authority and CBO Cost Estimate ..................................................  6
Com m ittee  Cost  E stim ate  .......................................................................................  8
U nfunded M andate  Statem  ent  ...............................................................................  8
A dvisory  C om m ittee  ...............................................................................................  8
Application of Law to the Legislative Branch       ......................................................  8
E arm ark  Statem ent   ................................................................................................ .  9
Duplication  of  Federal Program   s  ...........................................................................  9
Changes to  E xisting  L aw   .......................................................................................  9

   89-006


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