U.S. Congress quietly repeals plan for Internet financial disclosures

WASHINGTON, April 12 Fri Apr 12, 2013 2:41pm EDT

WASHINGTON, April 12 (Reuters) - The U.S. Congress on Friday voted to repeal a plan to require Internet posting of a vast database of financial disclosures from congressional staff and many executive branch employees required by a new ethics-in-government law.

Neither chamber debated the measure, which amends the "STOCK Act," passed with great fanfare last year to prevent lawmakers, their staffs and other government officials from using insider knowledge about policymaking to profit from stock trades and other investments. The disclosures of potentially sensitive financial information were due to begin on Monday.

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (2)
RJ9255 wrote:
Well, well, well, I see Congress has voted to protect themselves from disclosing the windfalls they received from this insider trading and voted to repeal the transparency disclosure act they once (supposedly) championed. So much for cleaning up the corrupt congress. I intend to post this link to every news site so that people can comment on it since it’s only been posted, no doubt in agreement with congress, at the bottom of Yahoo’s news site.

Apr 12, 2013 3:47pm EDT  --  Report as abuse
shaquila wrote:
Why do they get a free pass to cheat?

Apr 12, 2013 3:48pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.