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Bill

HR 10066

To prohibit the purchase, sale, or exchange of nonpublic information, and for other purposes.

119th Congress Introduced by Kweisi Mfume and 2 co-sponsors

Prohibits buying, selling, or exchanging nonpublic information to curb insider trading and improper data use across sectors.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HR 10066

Bill at a glance

  • Bill: HR 10066
  • Session: 119 -Jurisdiction: United States
  • Title: To prohibit the purchase, sale, or exchange of nonpublic information, and for other purposes
  • Status: Introduced and referred to the House Committee on the Judiciary (as of 2026-08-06)
  • Primary sponsors:
    • Co-sponsors: Kweisi Mfume, Eleanor Holmes Norton, Andrea Salinas

Purpose and intent

HR 10066 seeks to prohibit the purchase, sale, or exchange of nonpublic information. The bill’s core aim appears to be limiting private parties from trading information that is not publicly available, with the stated goal of reducing misuse, insider information advantages, or improper dissemination of sensitive data. The “and for other purposes” clause implies additional related provisions or enforcement mechanisms may be included beyond the core prohibition, though specifics are not provided in the brief summary.

Key provisions and changes (as implied)

  • Prohibition on nonpublic information trading:

    • Explicit ban on buying, selling, or exchanging data or information that is not publicly accessible.
    • Applies across sectors where nonpublic information could be traded, potentially including financial, corporate, or governmental data, depending on definitions in the full text.

  • Scope and definitions (to be specified in the bill):

    • Nonpublic information: Information not available to the general public or lacking public dissemination.
    • Purchaser, seller, or exchanger: Parties who would be restricted from engaging in these activities.
    • Potential exemptions: The bill may include exemptions (e.g., routine data sharing, authorized access for employees, or information disclosed under law), though exact details require full text.

  • Enforcement and penalties (likely components):

    • The bill would likely establish enforcement mechanisms, including civil or criminal penalties for violations, administrative actions, or monetary fines.
    • Jurisdictional reach could cover individuals, corporations, and entities handling nonpublic information.

  • Related regulatory or protective measures:

    • Possible provisions for notifications, compliance requirements, or reporting obligations for organizations that handle nonpublic information.
    • Potential establishment of standards, training, or oversight to ensure adherence.

Who would be affected

  • Individuals and entities that handle nonpublic information, including employees, contractors, brokers, and firms in industries where sensitive data is common.
  • Financial markets or corporate sectors where insider information risks are a concern (if the bill’s scope includes financial or corporate data).
  • Regulatory or enforcement bodies responsible for overseeing information integrity and compliance.

Procedural and timeline aspects

  • Introduced: 2026-08-06
  • Referred to: House Committee on the Judiciary (a common step for bills dealing with information, enforcement, or legal standards)
  • Next steps (typical): Committee consideration, potential markups, amendments, and votes; if advanced, floor consideration by the full House, followed by transmission to the Senate and potential enactment into law (subject to Senate action and presidential approval).

Practical impact considerations

  • If enacted, the bill could tighten controls on how nonpublic information is handled and traded, potentially reducing opportunities for insider trading or information leakage.
  • Businesses may need to review data governance policies, access controls, and internal trading restrictions to ensure compliance.
  • There could be increased regulatory oversight and potential penalties for violations.

Note: This summary is based on the high-level title and introductory action history. The full text of HR 10066 would provide precise definitions, definitions of nonpublic information, carve-outs, penalties, and enforcement procedures. For a complete impact assessment, a reading of the bill’s sections is recommended once publicly available.

Compiled from official sources — confirm details with the bill’s official record.

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