WASHINGTON – The House on Friday renamed the STOCK Act, which bans members of Congress from trading stocks based on knowledge they glean as lawmakers, after the woman who wrote it: Rep. Louise M. Slaughter.
The House approved the measure by voice vote after it was introduced by Rep. Paul Tonko, a Democrat from Amsterdam.
"It is fitting that the STOCK Act be renamed after my dear friend and colleague, lovingly referred to as simply Louise," Tonko said of Slaughter, a Fairport Democrat who died in March. "She stood for accountability, integrity, openness and transparency. The renaming of this law will honor her legacy and lifetime of service.”
Congress passed the STOCK Act in 2012. It's not the law that resulted in the arrest of Rep. Chris Collins, R-Clarence, on insider trading charges in August. That case is prosecuted under previously existing insider trading laws.
Tonko's measure now goes to the Senate for consideration.