top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

26 Oct 2021

New Bill: Federal Judges to Disclose Stock Trading Financial Information

The Index Today

Under the new legislation, stock trades exceeding $1000 must be reported by Federal judges along with financial disclosure forms. This legislation was proposed by bipartisan lawmakers’ form the Senate and the House Representatives after 131 federal judges were reported to have violated federal trading law.

A meeting has been scheduled for Tuesday which will aim to determine breaches conducted by Federal Judges in the Wall Street Journal’s Report regarding ownership of stocks. The House and Senate are working on creating accountability rules and bills which will focus on trade stocks held by judged and their families.

According to the courthouse ethics and transparency act, judges must comply with same trade stock laws which also apply to the senators, presidents and vice presidents for reporting financial transactions. Senator John Cornyn said in a statement, “This legislation would subject federal judges to the same disclosure requirements of other federal officials so we can be sure litigants are protected from conflicts of interest and cases are decided fairly.”

An online database will entail all disclosures made by judges which will then be posted online by the Administrative of the U.S Courts for public access. The bill is expected to be concluded and passed within the next six months. The bill has received support from the Senate Judiciary Committee from both democrats and republicans. The previous Ethics in Government Act of 1978 will amend to become the new version for disclosure of financial information.

©Photo: Reuters

Clay pottery with table linens
bottom of page