Tags: Diplomats | Insider | Trading | exemption

Diplomats Seek Exemption from Insider Trading Rule

Friday, 13 Jul 2012 04:24 PM

 

American diplomats want to be exempted from parts of a law that bans members of Congress, the president and thousands of other federal workers from profiting from nonpublic information learned on the job.

The union that represents the U.S. Foreign Service said Friday that it has no issue with the intent of the law but wants its members exempted from a requirement that personal financial disclosure statements be posted online.

It said a publicly available database with such information could put diplomats serving overseas at greater risk of kidnapping and make them more attractive targets for hostile foreign intelligence services seeking to recruit spies or obtain classified information.

The American Foreign Service Association said it is seeking amendments to the STOCK Act to remedy the matter.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved