Greek American Rep. Gus Bilirakis says giving up stock trading should be one of the sacrifices that comes with serving in Congress.
The Florida Republican, who is running for reelection, is calling for members of Congress to be barred from trading stocks, arguing that their access to information creates a conflict of interest; and that giving up trading should be part of the price of public service.
Bilirakis Wants to Ban Members of Congress From Trading Stocks
“Congressmen should not, congresswomen should not be trading stocks. I believe it’s a conflict of interest,” the Florida Republican said in an appearance on WFLA News Channel 8 shared on his campaign’s Facebook page.
Bilirakis pointed to the information available to lawmakers through their work, saying it would be safer for members of Congress to stay out of stock trading altogether. He also said he does not personally engage in the practice.
“Serving in Congress is an honor and a privilege, and it comes with sacrifices. One of them should be giving up stock trading,” he wrote in the accompanying Facebook post. “Members of Congress have access to a lot of information, and that’s a conflict of interest.”
The congressman said he had supported a ban whenever one had reached the House floor. His message framed the proposed restriction as a responsibility lawmakers should accept before taking office, rather than an unreasonable limitation on their personal finances
What a congressional stock-trading ban would change
The debate involves an important distinction: banning insider trading is not the same as banning lawmakers from trading stocks. The 2012 STOCK Act explicitly affirmed that members of Congress are subject to insider-trading prohibitions and established additional financial-disclosure requirements. It did not impose a blanket prohibition on lawmakers owning or trading individual stocks.
Under those disclosure rules, members must report certain securities transactions exceeding $1,000 within 30 days of receiving notice, and no later than 45 days after the transaction. The requirements also cover reportable transactions by spouses and dependent children.
Bilirakis’s support for restrictions on congressional financial activity dates back at least to December 2011, when he announced that he was co-sponsoring the STOCK Act. More recently, House voting records show that he voted for the Stop Insider Trading Act, which passed the chamber 232–198 on July 22, 2026.
That newer legislation would generally prohibit members of Congress, their spouses and dependent children from purchasing individual publicly traded stocks. However, it would allow them to retain existing holdings and sell covered investments after publicly disclosing their intention seven to 14 days in advance. It therefore stops short of requiring lawmakers to dispose of all their individual-stock holdings.
The distinction has drawn criticism from advocates of stronger restrictions. In a September 28 letter, the Campaign Legal Center argued that the House-passed measure would leave fundamental conflicts of interest unresolved. The organization also opposed unrelated voter-identification provisions included in the package. Senate leaders scheduled a procedural vote on the legislation for September 30.
Seeking reelection, with deep Greek American roots
Bilirakis is also running for another term representing Florida’s 12th Congressional District. The Florida Division of Elections lists him as a qualified Republican incumbent for the 2026 general election, which takes place on November 3.
The grandson of Greek immigrants, Bilirakis has maintained close ties to issues involving Greece and the Eastern Mediterranean. His congressional work includes serving as a co-chair of the Congressional Hellenic Caucus and as a founding co-chair of the Congressional Hellenic Israel Alliance.
Born in Gainesville, Florida, in 1963, Bilirakis graduated from Tarpon Springs High School before earning a bachelor’s degree from the University of Florida in 1986 and a law degree from Stetson University in 1989. An attorney, he served in the Florida House of Representatives from 1998 to 2006 and entered Congress in January 2007. His father, Michael Bilirakis, also served in the U.S. House.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
