President Obama signed the STOCK Act today, bipartisan legislation that bans insider trading in Congress and takes major steps towards a more open, transparent government. In remarks at the ceremony, the President explained the bill’s importance:

“The STOCK Act makes it clear that if members of Congress use non-public information to gain an unfair advantage in the market, then they are breaking the law. It creates new disclosure requirements and new measures of accountability and transparency for thousands of federal employees. That is a good and necessary thing. We were sent here to serve the American people and look out for their interests—not to look out for our own interests.”