,,ii  #aaeth ,,congress  #ast ,session  
,s4 #cej  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #i1 #bjag 
,mr4 ,franken 7for himself1 ,mr4        
,sanders1 and ,mr4 ,wyden7 introduced   
the following bill2 which was read twice
 and referred to the ,committee on      
,banking1 ,housing1 and ,urban ,affairs 
,a ,,bill  ,to amend the ,securities    
,exchange ,act of #aicd to prohibit     
,members of ,congress from receiving a  
discounted price in certain private     
offerings of securities4  #a4 ,short    
title  ,this ,act may be cited as the   
,end ,congressional ,stock ,market      
,abuse ,act of #bjag4  #b4              
,participation in securities            
transactions by public officials        
,section #ba;,a of the ,securities      
,exchange ,act of #aicd 7#ae ,u4,s4,c4  
#ghu-#a7 is amended by adding at the end
 the following3  7j7 ,participation in  
securities transactions by ,members of  
,congress  7#a7 ,definitions ,in this   
subsection-- 7,a7 the term covered      

security--  7i7 means any security that 
is regularly traded on a ,united ,states
 or foreign securities exchange2 and    
7ii7 includes any comparable economic   
interest acquired through synthetic     
means such as the use of a derivative or
 short selling any publicly traded      
security2  7,b7 the term price-- 7i7    
means--  7,i7 in the case of a purchase1
 the national best offer1 as defined in 
section #bdb4fjj7;c7 of title #ag1 ,code
 of ,federal ,regulations2  7,,ii7 in   
the case of a sale1 the national best   
bid1 as defined in section #bdb4fjj7;c7 
of title #ag1 ,code of ,federal         
,regulations2 or  7,,iii7 any other     
value1 as determined by the ,commission2
 and  7ii7 does not include any         
commission or fee paid to a broker or   
third party2 and  7,c7 the term ,united 
,states or foreign securities exchange  
means-- 7i7 a national exchange         
described in section #f2 and  7ii7 a    
designated offshore securities market1  
as defined in section #bcj4ib of title  

#ag1 ,code of ,federal ,regulations4    
7#b7 ,prohibition  7,a7 ,in general     
,except as provided in subparagraph     
7,b71 a ,member of ,congress may not--  
7i7 purchase a covered security for less
 than the price available on a ,united  
,states or foreign exchange2 or  7ii7   
sell a covered security for more than   
the price available on a ,united ,states
 or foreign exchange4  7,b7 ,exception  
,subparagraph 7,a7 shall not apply if a 
,member of ,congress reasonably believes
 that-- 7i7 in the case of a purchase of
 a covered security1 the discount was   
obtained in a manner generally available
 to the public2 or  7ii7 in the case of 
a sale of a covered security1 the       
premium was obtained in a manner        
generally available to the public4  4