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Congressmen Stumble On Sure-Fire Insider-Trading Cure

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If the SEC is going to be all holier-than-thou re: matters insider-trading, two Congressmen want to know why it doesn’t bar its employees from trading any stocks at all. You know, to be sure.

Two senior House Republicans called on the Securities and Exchange Commission to bar its employees from owning shares in individual companies on concerns the top U.S. markets regulator's current restrictions are too lax and fuel an appearance of impropriety….

"There appears to be no justification to continue to enable SEC employees to trade shares of stock in individual companies rather than investing through mutual or index funds," said Messrs. Issa and Jordan, who wrote the letter on behalf of the House Oversight and Government Reform Committee. Mr. Issa chairs the committee and Mr. Jordan heads a key subcommittee.

Lawmakers Seek Tougher Curbs on SEC Employees [WSJ]