Obama to Sign STOCK Act Wednesday

Obama to Sign STOCK Act Wednesday

(AP) Obama to sign bill Wednesday on insider trading
President Barack Obama is ready to sign legislation prohibiting members of Congress, the president and thousands of other federal workers from engaging in insider trading.

The bill signing highlights a day in which Obama will also deliver remarks at the Easter Prayer Breakfast at the White House.

While the bill Obama is signing into law Wednesday allows the public see more of government officials’ financial dealings, lawmakers abandoned an earlier proposal to require public reports from people who gather information from Congress _ and sell it, mainly to investors.

The impetus for the bill was Congress’ need to boost its dismal approval ratings. Polls in the past several weeks indicated between 12 percent and 19 percent of Americans approved of the job Congress is doing.