House passes bill to restrict lawmaker stock trading — but stops short of full ban

The measure prevents lawmakers, their spouses, and dependent children from buying new stocks of publicly traded companies while serving in Congress, which adds a new restriction on a highly controversial practice.

Under the legislation, lawmakers can still buy private stocks, keep stocks they already owned prior to entering Congress and maintain certain investment funds. Selling stock would require a seven-to-14-day advance notice. If the new rules are violated, the lawmaker would have to pay a fee of $2,000 or 10% of the value of the transaction, whichever is greater, and forfeit the profit from the trade.