Federal HB10125 prohibits trading securities based on nonpublic information from certain government officials' social media accounts.
Federal HB10125, the "No Preferential Release Of Federal Information for Transactions Act" or "NO PROFIT Act," prohibits the purchase or sale of securities while aware of nonpublic information from certain government officials' social media accounts. It defines "covered government official" as the President, Vice President, Members of Congress, executive branch employees, judicial officers, and judicial employees. The bill also prohibits social media platforms from offering prioritized access to communications from these accounts before they are generally available.
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