House Passes STOCK Act without "Political Intelligence Consultant" Requirements
The U.S. House of Representatives overwhelmingly approved its version of the Stop Trading on Congressional Knowledge ("STOCK") Act by a 417-2 vote. Unlike the Senate-passed version described in Caplin & Drysdale's earlier client alert, the House version of the STOCK Act does not include new registration and reporting obligations for "political intelligence consultants." Instead, the House version only calls for a Comptroller General/Congressional Research Service study on the activities of "political intelligence consultants."
A compromise on the "political intelligence consultants" provision may yet be included in the final STOCK Act after Senate and House Members reconcile the two different versions of the bill. Caplin & Drysdale will continue to follow this legislation closely and provide timely updates to our clients.
If you have any questions about this alert, please contact:
Trevor Potter at 202.862.5092 or tpotter@capdale.com
Matthew T. Sanderson at 202.862.5046 or msanderson@capdale.com
Bryson B. Morgan at 202.862.7836 or bmorgan@capdale.com
Caplin & Drysdale
Washington, D.C. Office: One Thomas Circle N.W., Suite 1100
Washington, D.C., USA 20005
PH: +1 202.862.5000 FX: +1 202.429.3301
New York Office: 375 Park Avenue, 35th Floor
New York, New York, USA 10152
PH: +1 212.319.7125 FX: +1 212.644.6755
www.caplindrysdale.com
© 2012 Caplin & Drysdale, Chartered
All Rights Reserved.
Caplin & Drysdale provides a full range of tax and legal services to companies, organizations, and individuals throughout the United States and around the world. The firm also offers private client counseling, exempt organizations counseling, employee benefits counseling, corporate law counseling, political law counseling, white collar defense, and complex litigation services.
This announcement does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.