,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #bbgg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #a1 #bjag,ms4    
,slaught] introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,f9ancial    
,s]vices  ,a ,,bill  ,to am5d !         
,securities ,ex*ange ,act ( #aicd to    
prohibit ,memb]s ( ,congress f receiv+ a
 disc\nt$ price 9 c]ta9 private (f]+s ( 
securities4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,end ,congressional     
,/ock ,m>ket ,abuse ,act ( #bjag4  #b4  
,p>ticipation 9 securities transactions 
by public (ficials ,section #ba;,a ( !  
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #ghu-#a7 is am5d$--  7#a7 9   
subsection 7i71 by /rik+ 7)9 ! mean+    
giv5 su* t]m 9 section                  
#ab7;f77#a77;,g77i77 & ins]t+ on a      
,unit$ ,/ates or =eign securities       
ex*ange2 &  7#b7 by add+ at ! end !     
foll[+3  7j7 ,p>ticipation 9 securities 
transactions by ,memb]s ( ,congress     
7#a7 ,def9itions ,9 ?is subsection--    
7,a7 ! t]m cov]$ security--  7i7 means  

any security t is regul>ly trad$ on a   
,unit$ ,/ates or =eign securities       
ex*ange2 &  7ii7 includes any comp>able 
economic int]e/ acquir$ ?r\gh syn!tic   
means su* z ! use ( a d]ivative or %ort 
sell+ any publicly trad$ security2  7,b7
 ! t]m price-- 7i7 means--  7,i7 9 !    
case ( a pur*ase1 ! national be/ (f]1 z 
def9$ 9 section #bdb4fjj7;c7 ( title    
#ag1 ,code ( ,f$]al ,regulations2       
7,,ii7 9 ! case ( a sale1 ! national be/
 bid1 z def9$ 9 section #bdb4fjj7;c7 (  
title #ag1 ,code ( ,f$]al ,regulations2 
or  7,,iii7 any o!r value1 z det]m9$ by 
! ,commission2 &  7ii7 does n include   
any commission or fee paid to a brok] or
 ?ird p>ty2 &  7,c7 ! t]m ,unit$ ,/ates 
or =eign securities ex*ange means-- 7i7 
a national ex*ange describ$ 9 section   
#f2 &  7ii7 a designat$ (f%ore          
securities m>ket1 z def9$ 9 section     
#bcj4ib ( title #ag1 ,code ( ,f$]al     
,regulations4  7#b7 ,prohibition  7,a7  
,9 g5]al ,except z provid$ 9 subp>agraph
 7,b71 a ,memb] ( ,congress may n--  7i7

 pur*ase a cov]$ security = less ?an !  
price available on a ,unit$ ,/ates or   
=eign ex*ange2  7ii7 sell a cov]$       
security = m ?an ! price available on a 
,unit$ ,/ates or =eign ex*ange2 or      
7iii7 pur*ase a private placem5t (f]+ ( 
a cov]$ security available on a ,unit$  
,/ates or =eign ex*ange4  7,b7          
,exception ,subp>agraph 7,a7 %all n     
apply if a ,memb] ( ,congress reasonably
 believes t--  7i7 9 ! case ( a pur*ase 
( a cov]$ security1 ! disc\nt 0 obta9$ 9
 a mann] g5]ally available to ! public2 
or  7ii7 9 ! case ( a sale ( a cov]$    
security1 ! premium 0 obta9$ 9 a mann]  
g5]ally available to ! public4  4