Yesterday, the U.S. Senate passed a bill which expands the Lobbyist Disclosure Act to include those conducting political intelligence activities.

Senate Bill 2038, the Stop Trading on Congressional Knowledge (STOCK) Act, defines the term ‘political intelligence activities’ to mean “political intelligence contacts and efforts in support of such contacts, including preparation and planning activities, research, and other background work that is intended, at the time it is performed, for use in contacts, and coordination with such contacts and efforts of others.”

‘Political intelligence contact’ is defined to mean oral, written, and electronic communication to covered executive and legislative branch officials intended for use in analyzing securities or commodities markets, or in informing investment decisions.

The lobbyist registration and disclosure requirements would be required by both political intelligence consultants and political intelligence firms, also defined in the bill.

The U.S. House version of the bill, House Resolution 1148, also called the STOCK Act, contains similar requirements.