On April 4, 2012, the STOCK Act (Stop Trading on Congressional Knowledge Act of 2012) was signed into law. Secondly, the law requires the establishment of an electronic filing system for certain financial disclosure reports that must be filed by legislative and executive branch officials under the Ethics in Government Act of 1978, and requires that the public reports of personal financial information filed by Members of and candidates to Congress, the President, the Vice President, and presidentially appointed and Senate confirmed officials at levels I (cabinet positions) and level II of the Executive Schedule are to be available to be publicly accessed on the Internet in a searchable and sortable format. Insider Trading

The provisions of the new law expressly affirm that there exists no exemption for Members of Congress, congressional employees, or for other federal officers or employees from the "insider trading" prohibitions in federal securities law and regulation. In addition to affirming that the insider trading restrictions of securities law and regulation apply to Members of Congress and to other federal officials, the STOCK Act further affirms expressly that each officer and employee of the legislative branch, each executive branch official, and each judicial officer and employee owes a duty of trust and confidence to the United States and the citizens of the United States with respect to material, nonpublic information derived from such person's public employment. The STOCK Act requires, as of July 3, 2012, the public reporting of covered transactions exceeding $1,000 in many of these income-producing assets to be made within 30 days of receiving notice of the transaction, but not later than 45 days after the transaction, from all federal officers and employees in the legislative and executive branches who are required to file public financial disclosure reports under the Ethics in Government Act of 1978, as amended. Such transactions in income producing real property, or in such holdings as mutual funds, must still, however, be reported on the annual financial disclosure reports of the official. Internet Posting of Disclosure Reports; Electronic Reporting

The STOCK Act as originally adopted had required the posting on the respective official websites of the House and Senate the annual financial disclosure reports, as well as the new prompt reporting disclosures of financial transactions, made in 2012 by Members, officers of the House or Senate, candidates to Congress, and employees of the entire legislative branch who are required to file public financial disclosure reports under the Ethics in Government Act. In response to such concerns and judicial actions, Congress had delayed the implementation of the requirement for Internet posting of personal financial data for most federal officials until the potential impact of these new Internet disclosures may be studied by the National Academy of Public Administration [NAPA]. However, for all other officers and employees in the legislative and executive branches of government who must file public reports with their agencies, these reports will no longer be required to be posted on the Internet.
The STOCK Act (Stop Trading on Congressional Knowledge Act of 2012) was signed into law on April 4, 2012. It affirms and makes explicit the fact that there is no exemption from the "insider trading" laws and regulations for Members of Congress, congressional employees, or any federal officials. The law also expressly affirms that all federal officials have a "duty" of trust and confidentiality with respect to nonpublic, material information which they may receive in the course of their official duties, and a duty not to use such information to make a private profit.
The STOCK Act, as part of the law's regulation of securities transactions by public officials, now requires expedited, periodic public disclosure of covered "financial transactions" by all officials in the executive and legislative branches of the federal government who are covered by the public reporting provisions of the Ethics in Government Act of 1978, as amended. The act thus works to require not only annual public reporting of such transactions (which reporting has been required since 1978), but also now requires public reporting within 30 days of receipt of a notice of a covered financial transaction (but in no event more than 45 days after such transaction). These periodic reports are filed with reference to any financial transactions of $1,000 or more in securities, but are not required for transactions in mutual funds or income-producing real property.
The act as originally adopted had required all public financial disclosure statements filed under the Ethics in Government Act in the legislative and executive branches to eventually be made in electronic form, and to be posted on the Internet where they may be publicly searched, sorted, and, if a log-in protocol is followed, downloaded from official government websites. Because of safety concerns, privacy threats, and the possibility of malicious use of such data, federal executives and employees complained about the Internet posting of their detailed financial information, and filed suit to stop the requirement to post such information on the Internet. Congress responded by amending the Stock Act to delay the Internet posting requirements of the public personal financial disclosure reports until a study could be made on the potential impact of having such personal financial information available on the Internet. Legislation (S. 716, 113th Congress) was signed into law on April 15, 2013 (P.L. 113-7, 127 Stat. 438) which permanently rescinds the requirement for Internet posting for most covered employees in the legislative and executive branches of the United States Government. However, the requirement for Internet posting of the financial disclosure reports and all financial information filed by Members of Congress, the President and Vice President, candidates for Congress, and federal officials appointed by the President and confirmed by the Senate in positions on the Executive Schedule at Levels I (cabinet level) and II, remains in effect, and such information and reports are still required to be posted on the Internet.