,,ii  #aae? ,,congress  #a/ ,session    
,s4 #cej  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #i1 #bjag ,mr4
 ,frank5 7= himself1 ,mr4 ,s&]s1 & ,mr4 
,wyd57 introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,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$ 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 or  7ii7 sell a cov]$    

security = m ?an ! price 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