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People & committees
Rep. Salinas, Andrea [D-OR-6] · D–OR
Legislative record
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Referred to the House Committee on the Judiciary.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
Source last updated: Sep 5, 2026. Consult Congress.gov for the current record.
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Analyze H.R.10066 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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PlainBill explanation
Based on the full Introduced in House · 2026-08-06 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
This proposal would prohibit the President, Vice President, and certain businesses connected to them or their families from selling or exchanging nonpublic information for financial benefit. It would also prohibit anyone from acquiring, buying, selling, or exchanging that information for financial benefit. The information must come from the President’s or Vice President’s official position. The bill would provide criminal and civil enforcement, including recovery of proceeds, but its criminal penalty references are unclear.
(2) Covered person The term covered person means the President or Vice President.
(1) Covered entity The term covered entity means a firm, partnership, association, corporation, or other entity— (A) which a covered person or a member of the immediate family of a covered person controls, directly or indirectly; or (B) in which a covered person beneficially owns a financial interest in the entity comprising not less than 5 percent of the equity, profits, or revenue interests of the entity.
means information that a covered person gains as a result of the covered person's official position and that the covered person knows or reasonably should know has not been made available to the general public
(b) Misuse of nonpublic information (1) Sale by covered persons and entities No covered person or covered entity may enter into a transaction to sell or exchange nonpublic information for financial benefit. (2) Purchase or sale by other persons No person may enter into a transaction to acquire, purchase, sell, or exchange nonpublic information for financial benefit.
(1) Penalty The punishment for an offense under subsection (b) shall be— (A) for an offense under subparagraph (A), a fine not more than double the value of the transaction, to be deposited in the Treasury or imprisonment for not more than 5 years, or both; and (B) for an offense under subparagraph (B), a fine not more than double the value of the transaction, to be deposited in the Treasury.
(d) Civil enforcement; disgorgement (1) Civil action The Attorney General may bring a civil action in an appropriate district court of the United States against any person or entity that engages in conduct constituting a violation of subsection (b) (without regard to whether a criminal prosecution has been brought), for— (A) disgorgement to the United States of all profits, payments, and other things of value derived from the conduct;
Section 1 would name the bill the “Stop Corrupt Trading Act.” Section 2 would add a new section 240 on misuse of nonpublic information to the federal criminal code.
1. Short title This Act may be cited as the Stop Corrupt Trading Act.
2. Misuse of nonpublic information (a) In general Chapter 11 of title 18, United States Code, is amended by adding at the end the following: 240. Misuse of nonpublic information
Covered entities would include organizations controlled directly or indirectly by the President, Vice President, or an immediate family member. They would also include organizations in which the President or Vice President beneficially owns at least 5 percent of the ownership, profit, or revenue interests. The ownership threshold expressly concerns the officeholder’s interest; the family connection appears in the separate control test.
(1) Covered entity The term covered entity means a firm, partnership, association, corporation, or other entity— (A) which a covered person or a member of the immediate family of a covered person controls, directly or indirectly; or (B) in which a covered person beneficially owns a financial interest in the entity comprising not less than 5 percent of the equity, profits, or revenue interests of the entity. (2) Covered person The term covered person means the President or Vice President.
Nonpublic information would mean information obtained through the officeholder’s official position that the officeholder knows, or reasonably should know, is unavailable to the public. Examples include information protected from disclosure, designated confidential, or neither publicly distributed nor authorized for release on request.
(3) Nonpublic information The term nonpublic information— (A) means information that a covered person gains as a result of the covered person's official position and that the covered person knows or reasonably should know has not been made available to the general public, including information that the covered person knows or reasonably should know— (i) is routinely exempt from disclosure under section 552 of title 5 or otherwise protected from disclosure by statute, Executive order, or regulation; (ii) is designated as confidential; or (iii) has not been disseminated to the general public and is not authorized to be made available to the public on request;
The definition would expressly include the officeholder’s statements or other communications distributed through an application programming interface—a way for software systems to exchange information—or other means when the public cannot access them on equal terms.
(B) includes statements or other communications by a covered person made available via application programming interface or other means that are not made available to the general public on equal terms.
The proposal would prohibit covered officeholders and entities from transactions selling or exchanging nonpublic information for financial benefit. A separate prohibition would apply to any person acquiring, purchasing, selling, or exchanging that information for financial benefit.
(b) Misuse of nonpublic information (1) Sale by covered persons and entities No covered person or covered entity may enter into a transaction to sell or exchange nonpublic information for financial benefit. (2) Purchase or sale by other persons No person may enter into a transaction to acquire, purchase, sell, or exchange nonpublic information for financial benefit.
The criminal penalty language would set one tier at a fine of up to twice the transaction’s value, imprisonment for up to five years, or both, and another tier at a fine of up to twice the transaction’s value. Fines would go to the Treasury. However, the penalty tiers refer to offenses under subparagraphs “(A)” and “(B),” while the prohibitions are numbered “(1)” and “(2),” leaving their assignment unclear.
(b) Misuse of nonpublic information (1) Sale by covered persons and entities No covered person or covered entity may enter into a transaction to sell or exchange nonpublic information for financial benefit. (2) Purchase or sale by other persons No person may enter into a transaction to acquire, purchase, sell, or exchange nonpublic information for financial benefit.
(c) Criminal penalties and forfeiture (1) Penalty The punishment for an offense under subsection (b) shall be— (A) for an offense under subparagraph (A), a fine not more than double the value of the transaction, to be deposited in the Treasury or imprisonment for not more than 5 years, or both; and (B) for an offense under subparagraph (B), a fine not more than double the value of the transaction, to be deposited in the Treasury.
When sentencing someone convicted of a prohibited transaction, the court would have to order forfeiture: surrender to the United States of property that constitutes or comes from proceeds obtained directly or indirectly through the offense.
(2) Criminal forfeiture The court, in imposing a sentence on a person convicted of an offense under subsection (b), shall order that the person forfeit to the United States any property, real or personal, constituting or derived from proceeds obtained, directly or indirectly, as a result of the offense.
The Attorney General could sue a violating person or entity in federal district court whether or not criminal charges were brought. The suit could seek disgorgement, meaning surrender to the United States of all profits, payments, and other things of value derived from the violation.
(d) Civil enforcement; disgorgement (1) Civil action The Attorney General may bring a civil action in an appropriate district court of the United States against any person or entity that engages in conduct constituting a violation of subsection (b) (without regard to whether a criminal prosecution has been brought), for— (A) disgorgement to the United States of all profits, payments, and other things of value derived from the conduct;
For each violation, the Attorney General could seek a civil penalty capped at the greater of $250,000 or three times the gain derived from, or payment made in, the prohibited conduct.
(B) a civil penalty of not more than the greater of $250,000 or 3 times the amount of the gain derived from, or the payment made in, the conduct, for each violation;
The Attorney General could also seek court orders addressing the violation, including an injunction directing conduct and a constructive trust requiring property traceable to the conduct to be held for the United States’ benefit.
(C) appropriate equitable relief, including an injunction and a constructive trust for the benefit of the United States over property traceable to the conduct.
Civil cases would use a preponderance-of-the-evidence standard: the claim must be more likely true than not.
(2) Standard of proof In an action under this subsection, the standard of proof shall be a preponderance of the evidence.
Civil cases generally would have to begin within six years after the conduct. That clock would pause while either the defendant or the officeholder whose position supplied the information serves as President or Vice President.
(3) Statute of limitations; tolling An action under this subsection shall be commenced not later than 6 years after the date on which the conduct occurred, except that such period shall be tolled during any period in which the defendant, or the covered person from whose position the nonpublic information concerned was derived, holds the office of President or Vice President.
A covered entity and anyone who knowingly provides something of value in a prohibited transaction would face joint and several liability for the civil remedies concerning that transaction. This means each could be held responsible for the full liability, rather than only a divided share.
(4) Liability of counterparties and entities A covered entity, and any person that knowingly provides anything of value in a transaction described in subsection (b) shall be jointly and severally liable for the remedies described in paragraph (1) with respect to that transaction.
The Director of the Office of Government Ethics would have to send credible evidence of violations to the Attorney General and notify both the Senate and House Judiciary Committees of every referral.
(5) Referral The Director of the Office of Government Ethics shall refer to the Attorney General any credible evidence of conduct described in paragraph (1), and shall notify the Committee on the Judiciary of the Senate and the Committee on the Judiciary of the House of Representatives of each referral.
The supplied actions snapshot, updated September 5, 2026, records introduction in the House and referral to the House Judiciary Committee on August 6, 2026. It does not establish what happened after those recorded actions.
Source snapshot updated 2026-09-05T08:05:56Z. 2026-08-06: Referred to the House Committee on the Judiciary. 2026-08-06: Introduced in House 2026-08-06: Introduced in House
A closer look
Reviewed version: Introduced in House · 2026-08-06. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy attached to appropriations was identified in the complete supplied introduced text. This conclusion does not cover other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion does not establish the absence of earmarks in other versions or accompanying materials.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow preferential benefit, special exemption, or carve-out was identified in the complete supplied introduced text. This conclusion is limited to that version.
Full text preserved for this analysis. Legislative record snapshot: Sep 5, 2026. How PlainBill uses AI