US Senate Approves Bill to disclose investment of congressmen

United States's the Senate yesterday approved a bill that requires lawmakers to disclose its equity transactions and explicitly prohibits members of Congress to invest based on privileged information obtained from their official duties.

Bill, which President Barack Obama cited in his State of the Union speech last week, aims to improve the image of the legislative power, whose approval rating stands at record lows.

Senators approved the project 93 to 2 and it is expected that it is voted by the House of representatives this week US President to sign.

Legislation, at least in part of a symbolic nature, is intended to respond to critics who say that lawmakers profit from those companies that have had special information.

United States legislators.UU. they are already subject to the same u000apenalties than other investors who use non-public information to enrich himself, although no member of Congress in recent times has been accused of insider.

"Members of Congress are not above the law", said the leader of the Democratic majority in the Senate, Harry Reid, prior to the vote.

"We must play by the same rules of game than the rest of us." "The draft law will clarify any perception that members of Congress can benefit from inside information," added.

In his State of the Union, which advises the President on the situation in the country and establishes the priorities of his Government, Obama made it clear that he was willing to sign a bill banning the use of insider in Congress.

"No one should be able to negotiate with action based on public feedback on Capitol Hill." So we're u000a"happy for the Senate to give one further step towards the adoption of the securities law," said the Press Secretary of the White House, Jay Carney, in a statement after the vote.

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