Stock Act Sheds Light On Political Intelligence
Black Enterprise Magazine July/August 2018 Issue

(Image: Thinkstock)

The legislation known as the Stop Trading on Congressional Knowledge Act, or Stock Act, aims to stop insider trading of “political intelligence” from taking place on Capitol Hill and in big business.

It gained momentum last year after a 60 Minutes report exposed several prominent representatives and accused them of insider trading using government information, according to CNN Money.

President Obama rallied around the bill’s passage during last month’s State of the Union address.

But now the bill is stuck, in part due to dissent over a provision that requires “political intelligence professionals” to register and disclose their activities to the government in the same way lobbyists do.

Although this industry has remained under the radar political intelligence is big business, noted the 60 Minutes report. Professionals are paid handsomely to gather information about government policy and pending legislation, often through lawmakers or other public officials.

“Political intelligence firms have increasingly become an issue — they have proliferated — and I think part of the issue here is that until the Stock Act, most Americans didn’t even know about the political intelligence industry,” said Melanie Sloan, executive director of the progressive watchdog group Citizens for Responsibility and Ethics in Washington.

A spokeswoman for the Senate’s Governmental Affairs Committee said staffers were unsure of when the two congressional chambers would resolve their disagreement and when the Stock Act might be finalized.

Join the Conversation

Sade K. Muhammad

Sadé Muhammad is a news intern at BlackEnterprise.com. Before Black Enterprise, she was a fashion writer for Jonesmagazine.com, blogger and research intern for Niaonline.com, and a marketing and web intern for WPVI-TV/6ABC in Philadelphia, PA. Sadé is a senior magazine journalism major and honors student at the Newhouse School of Public Communications at Syracuse University. With a passion for empowerment and solidarity among women of color, she is developing a print and online lifestyle magazine catering to this very audience for her senior thesis. When she’s not writing, she is talking fashion, travel, and Knicks basketball.


MORE ON BlackEnterprise.com