This bill is window dressing. Insider trading is fine. Actually, it's more than fine. If you understand the value speculators add, you'll understand the value insider traders add.
The fact that state thugs who might play a role in regulating or restricting others' freedoms, and thereby influence a company's future, do it (or did it) is the bigger issue. That, and the fact that they do it poorly, of course. lol