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ACLU Sues Over STOCK Act Impact On 28,000 Federal Employees PDF Print E-mail
Federal Government
By Administrator   
Friday, 03 August 2012 11:25

McLEAN, Va. (AP) — The American Civil Liberties Union is filing a lawsuit on behalf of 28,000 federal employees to block a new law designed to stop insider trading by government officials.

The lawsuit was filed Thursday in federal court in Greenbelt, Md. It seeks to block implementation of the STOCK Act, which stands for Stop Trading on Congressional Knowledge.
The bill at first applied only to members of Congress and their staffs. But it was extended to apply to 28,000 senior members of the executive branch, including military officers.
It requires those workers to post detailed information on their financial transactions online. The lawsuit claims the requirements are an invasion of privacy and subject those workers to a real fear of identity theft.
The law takes effect at the end of the month.
Last Updated on Friday, 03 August 2012 11:26
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