|MONDAY, JANUARY 28, 2019
Floor Schedule and Procedure:
Suspensions (3 bills)
This bill requires the SEC to study whether to amend the Rule 10b5-1 safe harbor for trading plans to limit the ability of corporate insiders to indirectly trade on material, nonpublic information. The bill would then require the SEC to report to Congress and write rules consistent with the results of the study. These changes, if made, would address reported incidents of manipulation, such as the $39 million sale of Intel stock by CEO Brian Krzanich on November 29, 2017, after he learned of two security flaws in Intel processors and within days of revising his trading plan for the second time that year.
This bill would direct the GAO to study and report on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking, and how virtual currencies and their underlying technologies can be used to combat illicit activities.
This bill calls on FinCEN to identify best practices and solutions to stop the problem of illicit use of new financial technologies. Additionally, the bill would create a reward pool for innovation in stopping terrorist use of cryptocurrencies and creates a targeted rewards program for information leading to the capture of terrorists and other illicit actors using cryptocurrencies for terrorism or other nefarious purposes.
|QUOTE OF THE DAY:
“Human relations cannot be measured by a ledger-sheet type of accounting. It’s more likely to be imprecise, uneven and imperfect. Reaching levels of progress may even occur quietly, and may not set off bells and whistles. It’s something that is more likely to be defined in terms of the old generalization, “When you get there, you’ll know it.”
– U.S. House Majority Whip James E. Clyburn