Diplomats Seek Exemption from Insider Trading Rule

Friday, 13 Jul 2012 04:24 PM

 

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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 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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