(POLITICO) — House Republicans plan to include in their insider-trading legislation a so-called Pelosi provision to strengthen rules that govern lawmakers’ participation in initial public offerings.
The plan will be part of a package of amendments to the STOCK Act expected to be released Tuesday evening. The Senate passed its own version of the ethics lesislation last week.
The idea is a shot across the bow at Minority Leader Nancy Pelosi (D-Calif.). The public uproar for Congress to tighten restrictions on lawmaker stock trading came after a CBS “60 Minutes” report, which said the wealthy Pelosi and her husband, Paul, participated in Visa’s initial public offering while credit card regulation legislation was pending before Congress.