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Nonprofits and Associations Forum

The Non-Profits and Associations Forum presents programs of particular interest to counsel who work in all of the various kinds of entities encompassed by this sector. The Forum covers such topics as corporate governance, antitrust, employment law, contracting issues (i.e., hotel contracts, convention contracts), etc. The Forum also strives to help in-house attorneys at non-profits to develop a strong network of colleagues they can call on.

The chairs of the Non-Profits and Associations Forum are:

 

Caplin & Drysdale, Chartered

 

In 2012, the Non-Profits and Associations Forum is sponsored by
CAPLIN & DRYSDALE CHARTERED

 

 

 

  February 7, 2012

 

 

Political Law Alert
 

Senate-Passed "STOCK Act" Requires "Political Intelligence Consultants" to Register and Report under Lobbying Disclosure Act


 

Late last week, the U.S. Senate overwhelmingly passed by a 96-3 margin the Stop Trading on Congressional Knowledge Act (the "STOCK Act"). The House version of the STOCK Act, with its 282 co-sponsors, is expected to be considered on the House floor later this week. President Obama has said he will sign the STOCK Act "right away." 

 

Among a variety of other provisions aimed at addressing practices alleged to constitute insider trading by Senators and Members of Congress, the Senate-passed version of the STOCK Act, includes a new provision that would effectively create a new category of lobbying registrant called a "political intelligence consultant." The bill then extends most of the registration and reporting obligations already imposed on registered "lobbyists" under  the federal Lobbying Disclosure Act of 1995 ("LDA") to such "political intelligence consultants" and their employers. Consequently, registered "political intelligence" filers would then also be required to file quarterly activity reports (Form LD-2) and/or semiannual contribution reports (Form LD-203), just as lobbying registrants currently do under the LDA. We consider five aspects of the Senate's version of the STOCK Act to be particularly noteworthy. Click here to read about these provisions of the STOCK Act.  
   

If you have any questions about this alert, please contact:

  

Caplin & Drysdale   

Washington, D.C. Office: One Thomas Circle N.W., Suite 1100
Washington, D.C., USA 20005
PH: +1 202.862.5000 FX: +1 202.429.3301 
  

New York Office: 375 Park Avenue, 35th Floor
 New York, New York, USA 10152
PH: +1 212.319.7125 FX: +1 212.644.6755

 

www.caplindrysdale.com 

 

© 2012 Caplin & Drysdale, Chartered

All Rights Reserved. 

 

This announcement does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

 




 

Political Law Alert

February 9, 2012

House Passes STOCK Act without "Political Intelligence

Consultant" Requirements

The U.S. House of Representatives overwhelmingly approved its version of the Stop Trading onCongressional Knowledge ("STOCK") Act by a 417-2 vote. Unlike the Senate-passed version described in Caplin & Drysdale's earlier client alert, the House version of the STOCK Act does not include new registration and reporting obligations for "political intelligence consultants." Instead, the House version only calls for a Comptroller General/Congressional Research Service study on the activities of "political intelligence consultants."  A compromise on the "political intelligence consultants" provision may yet be included in the final STOCK Act after Senate and House Members reconcile the two different versions of the bill. Caplin & Drysdale will continue to follow this legislation closely and provide timely updates to our clients.

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