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OpenSecrets launches Congress stock-trading database

http://blogs.marketwatch.com/capitolreport/2014/07/25/trade-like-a-congressman-as-opensecrets-launches-stock-trading-database/

Trade like a congressman as OpenSecrets launches stock-trading database

July 25, 2014, 11:40 AM ET See OpenSecrets.org

OpenSecrets has launched its new service tracking the stock trades of members of Congress. The disclosures were required as part of the STOCK Act, which was meant to prevent insider trading in Congress.

The filings it has are very timely — the latest being a buy order of Novartis NVS for at least $15,000 from Rep. Bill Owens, a New York Democrat, on July 15. Owens, who is retiring, also recently bought stock in Bonterra Energy CA:BNE , a Canadian oil producer.

According to OpenSecrets, freshman Rep. Alan Lowenthal, a California Democrat, has filed the greatest number of periodic transaction reports so far this year.

At the moment, only the House side is available, but OpenSecrets is working to get data on trades by senators as well. A less-easy-to-navigate database on the Senate side is offered by the upper chamber, where you can discover, for instance, Sen. Tom Coburn, the Oklahoma Republican, had several transactions in June buying and selling shares of Netflix NFLX and Priceline PCLN .

Coburn incidentally was one of just three senators to vote against the STOCK Act, arguing that senators would never insider trade. Coburn also is retiring.

The Securities and Exchange Commission, meanwhile, is trying to get a judge to enforce subpoenas on a House Ways and Means Committee committee for an insider-trading investigation the agency is conducting into health-care stocks.

– Steve Goldstein