Based on what Tech Ticker and the Wall Street Journal report, members of Congress are permitted to trade on material, non-public information pertaining to publicly traded companies:
http://finance.yahoo.com/tech-ticker/congress-refuses-to-outlaw-insider-trading-for-lawmakers-478701.html?tickers=^dji,^gspc,^ixic,brk-a,brk-b,gs,xlf
We could make an argument that current SEC regulations don't distinguish between legislators and non-legislators, so theoretically the insider trading that has occurred is technically already a violation of U.S. securities laws.
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