It does three key things. One, it prevents members from buying new stock once they become a member of Congress. The member of Congress arrives, they had stock in their portfolio. They need to provide 7 days advance notice of any potential sale of that stock. That prevents the economic opportunity to benefit from any insider information if they had it. And then finally, it has significant and real penalties associated with it to make sure people comply. (00:42–00:49)
CLAIM
Asserts that members must give 7 days' notice before selling stock.
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