Frequently Asked Questions
Everything you need to know about the STOCK Act, congressional stock trading, and PublicTradeLens.
What is the STOCK Act?
The Stop Trading on Congressional Knowledge (STOCK) Act is a 2012 federal law that explicitly prohibits members of Congress, their staff, and executive branch employees from using material non-public information obtained through their official duties to profit in the stock market. It also requires them to disclose all stock trades worth more than $1,000 within 45 days.
Is congressional stock trading legal?
Yes, members of Congress can legally trade stocks. The STOCK Act doesn't prohibit trading — it prohibits trading on insider information obtained through official duties, and requires public disclosure. Critics argue enforcement is weak.
How often is the data updated?
Congress members must file disclosures within 45 days of each trade. Our data is sourced from House Stock Watcher and Senate Stock Watcher, which process official filings as they are submitted. Real-time data is not available — there is an inherent delay of up to 45 days.
What does 'Buy' vs 'Sell' mean in the disclosures?
These refer to the direction of the transaction. A 'Buy' or 'Purchase' means the Congress member bought shares of that stock. A 'Sell' or 'Sale' means they sold shares. 'Exchange' typically refers to transactions like fund rebalancing.
What do the dollar amount ranges mean?
Congress members are not required to disclose the exact dollar value of each trade — only a range. The ranges go from '$1,001–$15,000' up to 'Over $50,000,000'. This means you can't know the precise amount traded, only the approximate scale.
Why are some politicians missing from the database?
Not all Congress members trade stocks. Those who don't have any trades on file won't appear. Some members may also have filed late or their data may not yet be processed by the data source providers we use.
Does this include both House members and Senators?
Yes. We aggregate data from both chambers of Congress — the U.S. House of Representatives and the U.S. Senate — from their respective disclosure systems.
Can family members' trades appear in these disclosures?
Yes. STOCK Act disclosures cover trades made by the Congress member themselves, as well as their spouse, dependent children, and joint accounts. We display all disclosed trades as filed, which may include family members.
What is a 'Periodic Transaction Report' (PTR)?
This is the official form Congress members file to disclose each trade. They must file a PTR within 45 calendar days of any covered transaction over $1,000. These forms are publicly available at the House Clerk and Senate Secretary's offices.
What happens if a Congress member files late or doesn't file?
Late filers face a $200 fine — criticized widely as insufficient. Willful failure to file or trading on actual insider information could theoretically constitute criminal securities fraud, though such prosecutions are extremely rare.
Are these trades evidence of insider trading?
Not necessarily. Most trades are likely routine financial management. The STOCK Act does not prohibit trading stocks — only trading based on material non-public information. The existence of a trade near related legislation is not proof of wrongdoing.
Can I use this data to make investment decisions?
No. Congressional trade data is for informational and transparency purposes only. It is not financial advice. Past congressional trades are not predictive of future returns. Always consult a licensed financial advisor before investing.
Why are some tickers listed as 'N/A' or blank?
Not all disclosed assets are publicly traded stocks. Some disclosures cover bonds, real estate investment trusts, mutual funds, or other assets that may not have a standard stock ticker. These appear as 'N/A'.
Is PublicTradeLens affiliated with the government?
No. PublicTradeLens is an independent, nonpartisan transparency tool. We are not affiliated with the U.S. government, Congress, or any political party.
Where does the underlying data come from?
Our data is sourced from House Stock Watcher (housestockwatcher.com) and Senate Stock Watcher (senatestockwatcher.com) — two volunteer-maintained open-source projects that parse official government filings. Ultimately, the source data originates from official congressional disclosure portals.