Prof. Painter Interviewed by MPR on STOCK Act

Professor Richard Painter was interviewed for a Minnesota Public Radio story on the Stop Insider Trading on Congressional Knowledge (STOCK) Act which has passed the U.S. Senate and will be voted on by the House this week. Painter was supportive of the Act but critical of a provision that would require registration of firms that seek to acquire nonpublic information from government officials. This provision, he said, raises civil liberties concerns and does not address the problem of leaks by government officials. "This particular provision is a feel-good measure, it will help for Election Day, perhaps, and make government look more ethical," Painter said. "But if we really want to solve the problem, we are going to have to regulate the selective disclosure by government officials of nonpublic information."