All posts tagged "Ethics Act"

Sen. John Fetterman (D-PA) and three other members of Congress appear to have violated federal law by filing late financial disclosures.

Reps. Stephanie Bice (R-OK) and Sean Casten (D-IL), along with Sen. Bill Hagerty (R-TN), were also tardy in reporting investment transactions.

Fetterman this week formally reported 30 corporate bond transactions and one stock sale made on behalf of his dependent children during 2023 — with the oldest transaction reported about 17 months after a federally mandated deadline....

Members of Congress are on a summer stock shopping spree — and still violating a financial disclosure law — amid a reinvigorated movement to ban congressional stock trading.

Three members of the House of Representatives appear to have violated the Stop Trading on Congressional Knowledge (STOCK) Act this week by filing required reports late — some as much as two years past a federally mandated deadline.

From Speaker Emerita Nancy Pelosi (D-CA) to Rep. Marjorie Taylor Greene (R-GA), more than a dozen other members of Congress continue trading stocks and securities, even in the immediate two weeks after the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act passed out of the Senate Committee on Homeland Security. ...

But what about Donald Trump’s Truth Social stock?

The former president’s massive financial assets were a primary concern of Sen. Mitt Romney (R-UT) during a Senate Committee on Homeland Security and Governmental Affairs debate Wednesday over whether Congress should ban federal lawmakers — and presidents — from owning and trading stocks and other investments.

“We don't want people in Congress trading stocks, playing the stock market. That's, if you will, the sheep's clothing over this wolf piece of legislation,” Romney said at the meeting. “What you're not talking about is that this has been drafted in a way that is really quite thoughtless, which is it requires divestiture for people who want to become a congressperson or president or vice president.”...

For 12 years, Sen. Jeff Merkley (D-OR) has pushed for a ban on congressional stock trading, calling the practice “corrupt,” “unacceptable” and “wrong.”

The first time he and Sen. Sherrod Brown (D-OH) presented an amendment in 2012 that would prohibit members of Congress from playing the stock market, they only got 26 votes in support.

Now, Merkley is confident an amended version of the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act has enough bipartisan support that it will come out of a markup meeting with the Senate Committee on Homeland Security and Governmental Affairs on Wednesday with the votes necessary to present the amendment for a vote....

Two Republican members of Congress violated a decade-old financial disclosure and conflicts-of-interest law by reporting personal financial transactions months late, according to federal financial documents reviewed by Raw Story.

Both Rep. Rob Wittman (R-VA) and Rep. Ron Estes (R-KS) violated the Stop Trading on Congressional Knowledge (STOCK) Act when they were up to four months late disclosing several personal stock transactions valued at between $1,001 and $15,000 each.

The STOCK Act requires key government officials, including members of Congress, to publicly report within 45 days most purchases, sales and exchanges of stocks, bonds, commodity futures, securities and cryptocurrencies. ...

At least six more members of Congress have violated the STOCK Act by failing to disclose transactions — up to $376,280 collectively — within a 45-day federal deadline, according to a Raw Story analysis of congressional financial documents.

The majority of the late disclosure dollars came from Rep. Jonathan Jackson (D-IL) who was late in disclosing up to $300,000 in stock transactions from a joint trust.

He is joined by five other lawmakers who were late in disclosing transactions in the $1,000-to-$15,000 range: Rep. Debbie Dingell (D-MI), Rep. Russ Fulcher (R-ID), Rep. Marcy Kaptur (D-OH), Rep. Deborah Ross (D-NC) and Rep. John Sarbanes (D-MD). ...