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The NO PROFIT Act prohibits trading in securities, commodities, and other financial instruments while possessing material nonpublic information obtained through prioritized access to social media accounts controlled by federal government officials and their family members. The bill also prohibits social media platforms from offering prioritized access to such accounts and requires the SEC and CFTC to issue enforcement rules within 180 days. The prohibition applies to direct trading, directing others to trade, and communicating such information to others likely to trade on it.
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