U.S. House of Representatives Speaker Paul Ryan on Wednesday said insider trading allegations against Representative Chris Collins, a fellow Republican, required a prompt and thorough investigation by the chamber’s ethics committee.
“While his guilt or innocence is a question for the courts to settle, the allegations against Rep. Collins demand a prompt and thorough investigation by the House Ethics Committee,” Ryan said in a statement. “Until this matter is settled, Rep. Collins will no longer be serving on the House Energy and Commerce Committee.”
The committee has been reviewing the alleged insider trading since last year. Federal prosecutors charged Collins on Wednesday with insider trading involving an Australian company’s drug trial.
Reporting by Lisa Lambert and Susan Cornwell; editing by Jonathan Oatis