Prohibits purchase or sale of securities with nonpublic information from government officials' social media accounts.
The NO PROFIT Act prohibits social media platforms from offering prioritized access to communications from certain government officials' accounts. It bans individuals from buying or selling securities, commodities, or futures while aware of nonpublic information from these accounts. Violations are treated as securities or commodities fraud, enforced by the SEC or CFTC. The Act defines "prioritized access" and "material information," and exempts certain communications for public health or safety.
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