Hold Congress Accountable: Apply the Rules They Created to Themselves!

Petition Introduction:

Congress has passed laws to ensure fairness, transparency, and accountability in finance and corporate governance industries. These rules protect the public from unethical practices, such as insider trading and conflicts of interest. However, Congress has consistently exempted itself and its families from many of these standards.

Even financial advisors and their families are prohibited from certain types of trading, such as participating in IPOs or using inside information to profit. Yet, members of Congress and their immediate families are not held to the same standards despite having access to market-moving, non-public information.

It's time to end this double standard. If these rules are good enough for corporate executives, financial advisors, and everyday Americans, they are good enough for Congress. We demand that Congress apply the same ethical standards to themselves and their families that they impose on others.

Petition Goals:

We, the undersigned, call on Congress to enact reforms that will:

1. Implement Blackout Periods:

   • Prohibit members of Congress and their immediate families from trading individual stocks during key legislative events, such as before and after votes, closed-door briefings, and major policy announcements—just as corporations require of their executives.

2. Prohibit Family Members from Trading IPOs or Using Inside Information:

   • Just like financial advisors and corporate insiders, members of Congress and their immediate families should be prohibited from participating in IPOs, trading stocks based on inside information, or engaging in financial transactions tied to pending legislation or policy decisions.

3. Require Fiduciary Responsibility:

   • Hold members of Congress to a fiduciary duty, requiring them to act in the best interest of their constituents and not for personal financial gain.

4. Enforce Transparency and Accountability:

   • Mandate detailed, real-time financial disclosures for lawmakers and their families and require all investments to be placed in blind trusts to eliminate conflicts of interest.

5. Impose Meaningful Penalties:

   • Subject members of Congress and their families to strict penalties for violations, including significant fines, forfeiture of profits, and suspension from legislative duties. Egregious violations should be subject to criminal prosecution.

The Case for Action:

Congress has acknowledged the importance of these rules by imposing them on others:

• Financial advisors and their families are prohibited from trading IPOs or profiting from insider information.
• Corporate executives face blackout periods to prevent insider trading.
• Ordinary Americans face harsh penalties for financial misconduct.

Why should Congress and their families be exempt from these rules? Holding lawmakers to the same standards will restore trust in government and ensure decisions are made in the people's best interest, not their portfolios.

Examples of Congressional Stock Performance:

• In 2023, approximately 33 members of Congress outperformed the S&P 500, which saw a 13.6% return that year. This includes:

  • Representative Brian Higgins (D-NY): Achieved an astounding 238.9% return—far outpacing even top hedge funds.
  • Representative Mark Green (R-TN): Secured a 122.2% return in the same year.

• Hedge funds returned an average of 8.9% in 2023, significantly lower than the returns some members of Congress achieved.

• High-profile cases of questionable trades:

  • Senator Richard Burr (R-NC): Sold stocks worth hundreds of thousands of dollars after a private COVID-19 briefing, avoiding massive losses before the pandemic crashed the market.
  • Speaker Nancy Pelosi (D-CA): Her husband's highly profitable trades, often aligned with pending legislation, have drawn public scrutiny.

Call to Action:

Join us in demanding that Congress and their families live by the rules they impose on others. Sign this petition to urge lawmakers to implement these reforms and prove they are committed to fairness, transparency, and accountability.

Let's end the double standard and hold Congress accountable—together.