THIS REPORT HAS BEEN PROVIDED TO THE FBI, FINCEN, FTC, FEC, SEC, OGE, DOJ, INTERPOL AND CONGRESSIONAL INVESTIGATORS (THE MASTER REPORT IS OVER 2000 PAGES). SEE WHY:
TOXIC COMPANIES (LINK)
SILICON VALLEY BRIBES CONGRESS WITH INSIDER TRADING TIPS AND STOCK GRANTS TO THEIR FAMILIES!
Read this letter from the Inspector General… we have thousands of such letters and they only apply to corrupt political insiders: 04.26.2021 Letter to DOE IG re Potential Proterra Conflict
We say IT IS A FELONY RICO RACKETEERING insider trading scam to pay-off corrupt politicians. California senators say “..it is just a little perk of the office…”
OUR SENATORS ENGAGED IN ORGANIZED CRIME BRIBERY BY TAKING BRIBES AS STOCK MARKET SECURITIES!
S.2038 – 112th Congress (2011-2012): STOCK Act | Congress …
What is the STOCK Act? – Fox News
Senators Accused Of Insider Trading, Dumping Stocks After Coronavirus Briefing
Sen. Richard Burr (R-NC) (Photo by Chip Somodevilla/Getty Images)
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Our elected officials in Congress are supposed to look out for our best interests. In a shocking revelation, it’s been reported that a number of senators sold their stock holdings after being briefed about the coronavirus and the massive impact it will have upon the economy, jobs and the stock market. While telling the American public that there wasn’t much to worry about, they bailed out of their stock holdings to avoid large losses.
In a bizzare quirk, we’ve permitted our politicians to do things that we can’t. Prior to 2012, Congress members were not prohibited from insider trading. Senator Richard Burr from North Carolina was a fierce opponent of a bill that ultimately banned this practice. In an interview at the time, Burr said about the potential new law, “It’s ludicrous.” He voted against the Stop Trading on Congressional Knowledge (STOCK) Act and said, “I mean, it’s insane.”
The STOCK Act passed into law in 2012. It states that members of Congress, other government employees, congressional staffers, members of the executive branch and judiciary are not permitted to engage in insider trading gleaned from information ascertained through their jobs.
Burr’s vehement opposition to the STOCK Act is now coming back to haunt him. Burr, the chairman of the Senate Intelligence Committee, sold 33 stocks held by both him and his spouse. The value of the sales is estimated at between $628,033 and $1.72 million. Some of the stocks were in sectors hit hard by the outbreak.
In a prepared statement from Burr, he claimed:
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Georgia Senator Kelly Loeffler was also at the meeting with Burr. Loeffler sold stocks valued at around $1.275 million to $3.1 million in an apparent effort to avoid potential losses. She also purchased stocks in two companies that were deemed to benefit from the coronavirus, including one in a company that offers teleconferencing software, which would help people who are working remotely from home.
From left, Sen. Kelly Loeffler, R-Ga., her husband Jeffrey Sprecher and Vice President Mike Pence … [+]
CQ-Roll Call, Inc via Getty Images
Shockingly, Loeffler is a former executive at Intercontinental Exchange and married to Jeffrey Sprecher, the chairman of the New York Stock Exchange. Clearly, they should have been aware of how inappropriate this looks. It also opens them both up to regulatory—and possible criminal—investigations.
Loeffler’s office issued a statement early on Friday. “Sen. Loeffler does not make investment decisions for her portfolio,” the statement said. “Investment decisions are made by multiple third-party advisers without her or her husband’s knowledge or involvement.”
Sen. Dianne Feinstein (D-CA) (Photo by Mario Tama/Getty Images)
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The Democratic senator from California, Diane Feinstein, who’s a ranking member of the Senate Judiciary Committee, sold stock owned by herself and her husband valued at $1.5 million and $6 million between Jan. 31 and Feb. 18.
Tom Mentzer, a spokesperson for Feinstein, said, “All of Senator Feinstein’s assets are in a blind trust.” Mentzer added, “She has no involvement in her husband’s financial decisions.”
Oklahoma Republican Senator Jim Inhofe sold stocks on January 27 that amounted to about $400,000, according to his disclosure report. Inhofe said, in response to the accusations, that he didn’t attend the briefing and doesn’t have “any involvement” in making his investment decisions.
Sen. James Inhofe (R-OK) (Photo by Chip Somodevilla/Getty Images)
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It is possible that the senators have their money in blind trusts and give full trading discretion to their financial advisors. Many wealthy people hire professional money managers to make buy and sell decisions for them. Even if this is the case, how can such high-profile elected officials allow their wealth managers to make these types of investment decisions? At face value, they look like they are flouting the law and taking advantage of private information only available to them. It’s frightening how arrogant or clueless they are to be unaware of how the public views this perceived breach of trust. At a time when we are depending upon our leaders in Congress, the appearance is that they are looking out for themselves.
Insider trading is a serious matter and can lead to investigations that result in possible civil and criminal indictments. People are now calling for probes into the senators’ financial dealings and demanding that they resign.
This scandal may be a tipping point. When he campaigned for the presidency in 2016, President Donald Trump was emphatic in his belief that regulations hold back businesses. One of his campaign promises was to limit the reach of regulatory agencies. By declawing the regulators, Trump believed that businesses would flourish, as they’re unencumbered by red tape and bureaucracy.
If the heinous actions of the senators prove to be true, it will place great pressure on Trump’s administration to reconsider its rollback of regulations. Regulators will become empowered. It would be reasonable to believe that investigations will be launched into other matters as well.
For example, regulators and the Department of Justice may decide to look into the companies that engaged in massive stock buybacks. When companies buy back their shares, the stock prices usually rise. Executives who receive stock and stock options greatly benefit from the appreciation in value of the company stock.
There are questions if this strategy played a part in over-leveraging the stock market—aiding its current collapse. Boeing, the large aircraft manufacturer that had several of its planes crash with accompanying allegations of faulty software and inadequate pilot training, is now asking the government for a bailout. The American public is now being asked to give the company money when it may have arguably engaged in a massive pump-and-dump-type scheme.
Amazon, Apple, Facebook, Google and a handful of other companies have become incredibly powerful. The coronavirus outbreak may make these companies even larger, asserting even greater control over the economy. Their growth harms their thousands of small and midsize competitors. Antitrust reviews may be initiated to determine if they are abusing their monopolistic grip over their respective sectors to ensure that we don’t end up with a handful of dominant companies controlling our economy.
Accusations over privacy violations have been continually raised, but nothing really has changed. We’ve become resigned to the fact that everything we do will be surveilled and all of our information will be sold off to the highest bidder. This may be looked into as well.
If this administration—or whichever one comes into power after the presidential election—recognized the need to stop the deregulatory environment and ramp up investigations, reviews and examinations of these and other important matters, there will be a huge need for compliance, legal, audit, privacy and regulatory professionals.
Office of Ethics | Rules of the Road | THE STOCK ACT
The STOCK Act: The Failed Effort to Stop Insider Trading …
The STOCK Act – Sullivan & Cromwell
The 2020 congressional insider trading scandal was a political scandal in the United States involving allegations that several members of the United States Senate violated the STOCK Act by selling stock at the start of COVID-19 pandemic in the United States and just before a stock market crash on February 20, 2020, using knowledge given to them at a closed Senate meeting. The Department of Justice (DOJ) initiated a probe into the stock transactions on March 30, 2020. No charges were brought against anyone and all investigations into the matter are closed.
Background
On January 26, 2012, Senator Joe Lieberman introduced the STOCK Act that would prohibit the use of non-public information for private profit, including insider trading by members of Congress and other government employees. The bill was passed by the Senate with only Senators Richard Burr, Jeff Bingaman, and Tom Coburn voting against it. The House of Representatives voted to approve of the bill and it was signed into law by President Barack Obama on April 4, 2012.[1]
Timeline
On January 24, 2020, the Senate Committees on Health and Foreign Relations held a closed meeting with only Senators present to brief them about the COVID-19 outbreak and how it would affect the United States.[2][3] Following the meeting Senator Kelly Loeffler and her husband Jeffrey Sprecher, the chairman of the New York Stock Exchange, made twenty-seven transactions to sell stock worth between $1,275,000 and $3,100,000 and two transactions to buy stock in Citrix Systems which saw an increase following the correction.[2] Senator David Perdue made a series of 112 transactions with stocks sold for around $825,000 and bought stocks worth $1.8 million. Perdue started buying around $185,000 in stock in DuPont, a company that makes personal protective equipment, on the same day as the Senate briefing up to March 2.[4][5] Additionally, John Hoeven of North Dakota purchased $250,000 in health science companies in January, five days after attending a briefing about the pandemic.[6]
On January 31 and February 18, Dianne Feinstein sold stock in Allogene Therapeutics, with the estimated value to be between $1.5 million and $6 million.[7] According to Feinstein, the investment decisions are made by her husband, and are reported by her per Senate rules. She states that “this company is unrelated to any work on the coronavirus and the sale was unrelated to the situation.”[8] Feinstein also reportedly provided documents to the FBI related to her husband’s transactions, in order to show that she had no connection to the decision.[9]
On February 7, Senator Burr, the Chair of the Senate Intelligence Committee, stated in an open-editorial on how the government could respond to coronavirus that “Luckily, we have a framework in place that has put us in a better position than any other country to respond to a public health threat, like the coronavirus,” However, on February 13, he and his wife sold between $628,000 and $1.7 million worth of stock through thirty-three transactions and on February 27, Burr stated that “There’s one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history,” at a Capitol Hill Club luncheon and his statement was later leaked in a secret recording.[10][11]
On March 19, ProPublica published an article showing that Burr had sold stock shortly before the correction and Loeffler, Jim Inhofe, and Dianne Feinstein‘s stock selling was also reported. NPR asked Caitlin Carroll, Burr’s spokesperson, for a comment on the alleged violations and she responded with “lol” and then clarified that “As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.”[10]
Tucker Carlson called for Burr to resign from the Senate and be prosecuted for insider trading on a segment of Tucker Carlson Tonight.[12] Representative Alexandria Ocasio-Cortez also called for Burr to resign and Representative Joaquin Castro called for an investigation into the stock selling.[13] Representative Doug Collins, who ran against Loeffler in the special Senate election in Georgia, criticized her by stating “People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain? I’m sickened just thinking about it.”[14]
On April 10, Montana Attorney General Tim Fox accused Representative Greg Gianforte, the wealthiest member of the House of Representatives, of insider trading by investing into the manufacturer of hydroxychloroquine. At the time Fox was running against Gianforte for the Republican nomination in the 2020 Montana gubernatorial election.[15] Although several investments were made in Gianforte’s name for companies which potentially stood to profit from the covid-19 pandemic, such as Roche Holdings, Gianforte says all his investments are made for him through a blind trust.[16]
Investigation
On March 20, Burr requested for the Senate Ethics Committee to investigate his stock trading history and stated that he only used publicly available information to make his decisions.[17] On March 30, the Department of Justice initiated a probe into the stock transactions in conjunction with the Securities and Exchange Commission (SEC).[18]
During the investigation it was discovered that Burr had also sold around $47,000 worth of stock in OCI, a Dutch fertilizer company, before it suffered a forty-two percent decrease in its value in 2018. From September 5 to 8, 2018, Burr and his wife sold all of their stock in OCI, which at the time was experiencing its highest share price; a month later it failed to meet quarterly earnings expectations after the Trump administration granted exemptions to eight countries for sanctions placed on Iranian oil and petrochemicals.[19]
On May 13, the FBI seized Burr’s phone, to investigate his communications with his stock broker, among other warrants, including one to search his personal iCloud account.[20] On May 14, Burr told Senate Majority Leader Mitch McConnell that he would temporarily step down as chairman of the Senate Intelligence Committee for the remainder of the investigation.[21]
On May 26, the Justice Department announced that it had ended its investigation into Feinstein, Inhofe, and Loeffler.[22] On January 19, 2021, the Justice Department closed its investigation into Burr.[23]
References
- Wong, Scott (February 2, 2012). “STOCK Act passes Senate by vote of 96-3”. Politico. Archived from the original on March 25, 2014.
- “Sen. Kelly Loeffler Dumped Millions in Stock After Coronavirus Briefing”. The Daily Beast. March 20, 2020. Archived from the original on March 20, 2020.
- “Senate Health Committee Announces Briefing to Update Senators on Coronavirus”. January 23, 2020. Archived from the original on February 26, 2020.
- “David Perdue’s stock trading saw an uptick as coronavirus took hold”. April 7, 2020. Archived from the original on April 7, 2020.
- “Sen. David Perdue bought stock in a company that produces protective medical equipment the same day senators received a classified briefing on the coronavirus”. April 7, 2020. Archived from the original on April 7, 2020.
- “GOP Sen. Hoeven bought up to $250,000 in health sciences fund days after coronavirus briefing”. March 20, 2020.
- Lipton, Eric; Fandos, Nicholas (March 20, 2020). “Senator Richard Burr Sold a Fortune in Stocks as G.O.P. Played Down Coronavirus Threat”. The New York Times. ISSN 0362-4331. Retrieved May 29, 2022.
- Burns, Katelyn (May 27, 2020). “Kelly Loeffler and 2 other senators are no longer being investigated for insider trading”. Vox. Retrieved May 29, 2022.
- Andrew Desiderio. “Feinstein talks with FBI about her husband’s stock trades”. POLITICO. Retrieved May 29, 2022.
- “Intelligence Chairman Raised Virus Alarms Weeks Ago, Secret Recording Shows”. NPR. March 19, 2020. Archived from the original on March 20, 2020.
- “Senate Intel chair unloaded stocks in mid-February before coronavirus rocked markets”. OpenSecrets. March 19, 2020. Archived from the original on March 19, 2020.
- “Tucker Carlson calls on Burr to resign amid reports of stock selloff”. The Hill. March 19, 2020. Archived from the original on March 20, 2020.
- “Burr, other senators under fire for stock sell-offs amid coronavirus outbreak”. NBC. March 19, 2020. Archived from the original on March 21, 2020.
- “How Richard Burr and Kelly Loeffler became political villains in the coronavirus saga”. CNN. March 20, 2020. Archived from the original on March 21, 2020.
- “Richest GOP congressman accused of ‘insider trading’ on coronavirus — by a Republican AG”. April 10, 2020. Archived from the original on April 11, 2020.
- GAISER, COLIN (April 19, 2020). “Rep. Gianforte responds to accusations about profiting from pandemic”. Daily Inter Lake. Retrieved May 29, 2022.
- “Burr requests ethics investigation into stock sale, denies wrongdoing”. The Hill. March 20, 2020. Archived from the original on March 21, 2020.
- “Exclusive: Justice Department reviews stock trades by lawmakers after coronavirus briefings”. The Hill. March 30, 2020. Archived from the original on March 31, 2020.
- “Senate Intel Chair Sold Dutch Fertilizer Stock in 2018, Right Before a Collapse”. April 7, 2020. Archived from the original on April 7, 2020.
- “FBI serves warrant on senator in investigation of stock sales linked to coronavirus”. May 13, 2020. Archived from the original on May 14, 2020.
- “Richard Burr to step down as Intelligence Committee chairman”. May 14, 2020. Archived from the original on May 14, 2020.
- “Justice Dept. Ends Inquiries Into 3 Senators’ Stock Trades”. May 26, 2020.
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At Hearing on Insider Trading, Senator Warren Makes Case for Her Bipartisan Bill to Ban Members of Congress From Owning or Trading Stocks
“Last year, Members of Congress and their spouses traded more than half a billion dollars in stocks and other investments. And here’s the most alarming part: on average, Members of Congress came out ahead of the S&P 500.”
Senator Warren’s bipartisan bill with Senator Daines would ban Members of Congress and their spouses from owning or trading individual stocks.
Video of Hearing Exchange (Youtube)
Washington, D.C. — During a U.S. Senate Committee on Banking, Housing, and Urban Affairs, United States Senator Elizabeth Warren (D-Mass.) made the case for her bill with Senator Steve Daines (R-Mont.), the Bipartisan Ban on Congressional Stock Ownership Act (S. 3631), which would ban Members of Congress and their spouses from owning and trading individual stocks. The legislation is the only bipartisan proposal in the Senate to prevent members of Congress from owning or trading stock.
During the hearing, Senator Warren provided examples of how Members of Congress can engage in insider trading by using their special access to information on government and the private sector to gain a financial advantage by purchasing or trading stocks. Two top leading experts on insider trading, New York University School of Law Professor Robert J. Jackson Jr. and Columbia Law School Professor John C. Coffee, Jr., agreed with Senator Warren that this issue poses conflicts of interest and that there should be rules to ban Members of Congress from trading or owning individual stocks.
Transcript: Keeping Markets Fair: Considering Insider Trading Legislation
U.S. Senate Committee on Banking, Housing, and Urban Affairs
Tuesday, April 5, 2022
Senator Warren: Thank you, Mr. Chairman.
One of the biggest threats to functioning markets is insider trading. When some market participants get special access to information, they can use it to take advantage of everyone else. It’s cheating, plain and simple—and it’s illegal. Even so, it happens.
We’ve talked a lot today about one kind of market participant and that is company executives who trade stock based on secret information they have about their business.
But it can happen in other ways too. Sometimes a high-ranking government official might know about a change in government policy that can powerfully affect a corporation.
Professor Jackson, you’re one of the nation’s top experts on insider trading, so let me run through some examples with you. If an official – let’s say, a Member of Congress – learned that the federal government was about to award a company a huge new contract, and then that Senator bought stock in that company before the news of that contract was made public, could that be considered insider trading?
Professor Robert J. Jackson Jr: Yes, Senator, it could.
Senator Warren: Okay, let’s try another one. What about if that Member of Congress attended a top-secret briefing and learned that a company was facing big legal trouble? Could selling their stock before that company made that information public be considered insider trading?
Professor Jackson: Yes, Senator, it could.
Senator Warren: Okay. And what if that Member learned in a closed committee meeting of plans to boost the Pentagon’s budget by tens of billions of dollars. If that member bought defense stock generally ahead of the markup, could that be considered insider trading?
Professor Jackson: Yes, Senator, it could.
Senator Warren: Let’s do one more. What if that Member of Congress held drug company stocks and learned from their Committee Chair that legislation to cut drug prices would be moving in the Committee – and if they sold those stocks, could that be considered insider trading?
Professor Jackson: Yes, Senator it could.
Senator Warren: Members of Congress are in a unique position to obtain information that they can use to game the stock market.
In fact, the risks with government officials are even higher than they are with most CEOs because government officials can sometimes use their public positions to influence private outcomes—and the value of stocks they hold or trade. For example, voting on laws that will protect—or break up—a giant tech company could have a direct impact on the wealth of a Member of Congress who holds stock in giant tech companies.
So look, this isn’t a hypothetical problem. Last year alone, Members of Congress and their spouses traded more than half a billion dollars in stocks and other investments. And here’s the most alarming part: on average, Members of Congress came out ahead of the S&P 500. And yet not one single member was criminally charged with insider trading.
Now, there’s no doubt in my mind that Members of Congress who break federal law by engaging in insider trading should be criminally prosecuted. But there’s also no doubt, that’s not enough to fix this problem. That’s already the law. So let me ask you, Professor Jackson. do we need stronger rules to prevent insider trading in the halls of Congress?
Professor Jackson: Yes, this is critical, Senator. When Members are in the business of making decisions that can affect companies, at the same time that they have portfolios that could include those very companies, there’s a risk of a conflict. We absolutely need rules to address this, Senator.
Senator Warren: Thank you. And Professor Coffee, you are also one of the country’s leading experts in the area of insider trading, would you like to weigh in on this?
Professor John C. Coffee, Jr: Well I think Professor Jackson was basically relying on the STOCK Act which is a very specific statute. I would point out that with respect to Section 16 here, if this was someone other than a congressman, or a person covered by the STOCK Act, it might be impossible to prosecute them because there would be no personal benefit paid for the information, and then you would not be liable under this proposed Section 16 with this personal benefit rule. When it comes to the broader question you asked, I think you might be suggesting that we should move beyond the criminal law which is always a blunt sword that can only be occasionally applied, and have Congress impose upon itself some prophylactic rules. It may be Congress should only invest in diversified portfolios like mutual funds and not own individual stocks. I’ve heard that idea has been suggested in these halls, I think it’s a very good idea.
Senator Warren: Thank you very much, Professor Coffee. You know, regardless of how trustworthy Members of Congress might be, trading in individual stocks undermines public confidence in the market, and it undermines confidence in Congress.
And this is why as Professor Coffee delicately alludes, I’ve introduced bipartisan legislation – with Senator Daines, who is also a member of this committee – to ban Members of Congress from owning or trading individual stocks. They can still do the big mutual funds but not individual stocks. We need to change the rules so that it is 100% clear that Members of Congress are not going to be allowed to game the system.
Mr. Chairman, I know you have introduced legislation to achieve a similar goal, and I look forward to working with you and working on a bipartisan basis. We need to get this done.
Following Pelosi Trades, Hawley Calls for Hearing on Banning Insider Trading in Congress
Today U.S. Senator Josh Hawley (R-Mo.) sent a letter to Senate Homeland Security and Governmental Affairs Committee (HSGAC) Chairman Gary Peters (D-Mich.) calling for a hearing to consider bipartisan proposals to ban insider stock trading by members of Congress and their spouses. The letter follows recent revelations that House Speaker Nancy Pelosi’s husband invested millions of dollars in computer-chip stocks as Congress was preparing to vote on legislation to subsidize the chip-manufacturing industry.
“It has been more than six months since members of this Committee proposed measures to put an end to inappropriate financial transactions. Despite these efforts, Speaker Pelosi and her husband remain undeterred from cashing in,” wrote Senator Hawley. “More than 70% of Americans agree that this is unacceptable and that Congress shouldn’t be trading stocks at all. After all, clean government in Washington begins with Members of Congress putting the American people first—and not lining their own pockets.”
Senator Hawley previously introduced the Banning Insider Trading in Congress Act, which would prohibit Members of Congress and their spouses from trading individual stocks and require Members found in violation to return their profits to the American people.
Read Senator Hawley’s entire letter here and below:
July 20, 2022
The Honorable Gary Peters
Chairman
Senate Homeland Security and Governmental Affairs Committee
340 Senate Dirksen Office Building
Washington, D.C. 20510
Dear Chairman Peters:
I write to request that, as Chairman of the Senate Homeland Security and Governmental Affairs Committee (HSGAC), you convene a hearing as soon as practicable to consider bipartisan, bicameral solutions to banning insider stock trading by Members of Congress and their spouses.
This issue of whether and how Members of Congress engage in various financial transactions deserves scrutiny by the Committee. For example, recent reports show that Speaker Pelosi’s family continues to engage in what is arguably inappropriate stock trading activities. According to reports, her husband Paul Pelosi recently purchased 20,000 shares of Nvidia, a multinational semiconductor company, worth between $1 million and $5 million. This trade came ahead of a likely vote in the Senate that could set aside $52 billion to boost domestic semiconductor manufacturing and give tax credits for production.
This specific trade raises serious questions, but it’s nothing new. Last year, Speaker Pelosi’s biggest financial gains came from her husband exercising options to purchase shares of Google just one week before the House Judiciary Committee held a hearing on antitrust legislation that would impact Big Tech companies. In 2020, Speaker Pelosi and her husband outperformed the S&P 500 by a whopping 14.3 percent.
Members on both sides of the aisle have introduced legislation to address this problem. I am proud to have introduced S.3504, the Banning Insider Trading in Congress Act. Senators Ossoff and Kelly have introduced S.3494, the Ban Congressional Stock Trading Act. Senators Merkley, Brown, and Warnock have introduced S.564, the Ban Conflicted Trading Act. Senators Warren and Daines have introduced S.3631, Bipartisan Ban on Congressional Stock Ownership Act. And Senator Gillibrand introduced S.3612, the STOCK Act 2.0. My bill and others were referred to the Committee. This suggests that there is a clear interest from our colleagues in taking action to address unethical stock trades. An oversight hearing would provide an opportunity to debate these various proposals and determine points of consensus in order to move forward.
It has been more than six months since members of this Committee proposed measures to put an end to inappropriate financial transactions. Despite these efforts, Speaker Pelosi and her husband remain undeterred from cashing in. More than 70% of Americans agree that this is unacceptable and that Congress shouldn’t be trading stocks at all. After all, clean government in Washington begins with Members of Congress putting the American people first—and not lining their own pockets.
I appreciate your willingness to discuss this issue with me previously. I believe the time has come for the Committee to hold an oversight hearing focusing specifically on banning Members of Congress and their spouses from trading stocks. Let’s get this done.
Sincerely,
Josh Hawley
United States Senator
Marianne Ayala/Insider
Feinstein was months late disclosing a five-figure investment her husband made into a private, youth-focused polling company.
Tuberville was weeks or months late in disclosing nearly 130 separate stock trades from January to May.
Marshall was up to 17 months late disclosing stock trades for one of his dependent children.
United States Senate
In May 2020, Hickenlooper was months — and in two cases, more than a year — late in disclosing five separate stock trades for himself or his wife that, taken together, are worth between $565,000 and $1.3 million, nonprofit news organization Sludge reported.
Then, in June, Hickenlooper failed to disclose purchases of varying classes of stock from by his wife. They include shares of Liberty Media Corporation, Qurate Retail, and Liberty Broadband Corporation in 2021 and early 2022. The stocks were valued between $516,006 and $1.2 million. Hickenlooper was also late in reporting that his wife sold between $130,004 and $300,000 worth of stock in Liberty Media Corporation and Liberty Broadband Corporation from March 2022.
Paul was 16 months late in disclosing that his wife bought stock in a biopharmaceutical company that manufactures an antiviral COVID-19 treatment, the Washington Post reported.
Whitehouse was a couple days late disclosing January 2022 purchases of Target Corporation and Tesla Inc. stock, each valued at between $15,001 and $50,000.
Carper was about four months late disclosing his wife’s sale of stock in a gold mining company.
Hagerty was months late disclosing stock trades on behalf of his dependent children.
Lummis was several days late reporting a purchase in August of up to $100,000 in bitcoin, CNBC reported.
Peters was months late disclosing a purchase of up to $15,000 worth of stock in FS KKR Capital Corp., which manages business development companies, nonprofit news organization Sludge reported.
Kelly, a retired astronaut, failed to disclose on time his exercising of a stock option on an investment in a company that’s developing a supersonic passenger aircraft, Fox Business reported.
Malinowski failed to disclose dozens of stock trades made during 2020 and early 2021, doing so only after questions from Insider.
The independent Office of Congressional Ethics, in part citing Insider’s reporting, found “substantial reason to believe” that Malinowski violated federal rules or laws designed to promote transparency and defend against conflicts. It voted 5-1 to refer its findings to the Democrat-led House Committee on Ethics, which confirmed on October 21 that it will continue reviewing the matter.
Fallon was months late disclosing dozens of stock trades during early- and mid-2021 that together are worth as much as $17.53 million. Fallon was late again in December 2021 disclosing stock trades.
In 2021, Harshbarger failed to properly disclose more than 700 stock trades that together are worth as much as $10.9 million.
Lee failed to properly disclose more than 200 stock trades between early-2020 and mid-2021. Together, the trades are worth as much as $3.3 million.
Cawthorn was months late in May 2022 when disclosing hundreds of thousands of dollars worth of purchases and sales of two cryptocurrencies: ethereum and Let’s Go Brandon Coin, the latter referencing an anti-Joe Bien slogan.
Then, in June 2022, he was again months late in disclosing two-dozen additional cryptocurrency trades.
Clark, one of the highest-ranking Democrats in the House, was several weeks late in disclosing 19 of her husband’s stock transactions. Together, the trades are worth as much as $285,000. She has since stopped trading stocks.
Moore in early- to mid-2021 did not properly disclose dozens of stock and stock-option trades together worth as much as $1.1 million. He was late again disclosing trades made in August.
On June 7, 2022, Moore established a qualified blind trust, formally ceding control of his investments to an independent trustee.
Raskin failed to disclose on three annual congressional financial reports that his wife, Sarah Bloom Raskin, held stock in Reserve Trust. He then didn’t disclose that she sold the stock, valued at $1.5 million, until months after a federal deadline for doing so. In early 2022, Raskin explained that sale disclosure delay occurred following his son’s death.
Then, in June 2022, Raskin was again late disclosing stock trades. This time, it involved an exchange of stocks his wife received when I(X) Investments merged with Net Zero — a trade valued at between $250,001 and $500,000.
Sherrill was months late disclosing two sales of vested stock her husband earned as part of his employment. The trades were worth up to $350,000 and Sherrill paid a $400 late fee.
Brooks, a US House member who ran for a US Senate in 2022 but lost in a primary, failed to properly disclose a sale of Pfizer stock worth up to $50,000.
Crenshaw was months late disclosing several stock trades he made in the early days of the COVID-19 pandemic, the Daily Beast reported.
Manning and her husband were late — sometimes by months — disclosing several dozen stock trades made in 2021 that together were worth up to $1.25 million, according to nonprofit news organization Sludge.
Hern did not disclose nearly two-dozen stock trades in a timely manner, in violation of the STOCK Act. Taken together, the trades are worth as much as $2.7 million.
Wasserman Schultz was months late reporting four stock trades made either for herself or her child.
Guest was more than eight months late disclosing trades in the stock of two oil companies held by a family trust benefitting his wife.
Maloney was months late in disclosing he sold eight stocks he inherited in mid-2020 when his mother died.
Mast was late disclosing that he had purchased up to $100,000 in stock in an aerospace company. The president of the company had just testified before a congressional subcommittee on which Mast sits.
Trahan was months late disclosing the sale of stock shares in a software company.
Rutherford failed to properly disclose five individual stock transactions he made in late 2020.
Schneider was about two months late disclosing two stock trades involving a pet insurance company.
Green was about two weeks late disclosing the June 2022 purchase of an energy stock valued at up to $250,000.
Trone was months late reporting several stocks and structured notes that together are worth well into the hundreds of thousands of dollars.
Sessions was a month late in reporting a purchase of stock in Amazon.com he made during August 2021. Separately, in early 2022, Sessions was late disclosing seven trades he made in late 2021. Sessions has been an outspoken advocate of allowing members of Congress to trade individual stocks.
Meuser was about one year late disclosing hundreds of thousands of dollars worth of stock purchases his wife and children made during March 2020, LegiStorm reported.
Gonzalez was nearly a year late in disclosing a sale of up to $15,000 worth of mining company stock.
Castor was late disclosing the purchase of tens of thousands of dollars worth of stock shares throughout 2021.
Salazar was weeks late disclosing a health care company stock share exchange valued at between $250,001 and $500,000.
The freshman congresswoman had sharply criticized her predecessor, former Rep. Donna Shalala, for her own STOCK Act-related troubles.
Pascrell was overdue reporting stock trades he made in December 2019 in General Electric and in August 2019 in pharmaceutical company Johnson & Johnson.
Pfluger was several months late disclosing numerous stock purchases or sales made in January or March either by himself or by his wife.
Higgins was about 11 months late disclosing three stock trades he made in late 2020.
Bustos was months late in disclosing that she had sold up to $150,000 worth of stocks in March.
Chabot was months late disclosing a stock share exchange he held in early 2021.
Spartz was two weeks late disclosing a purchase of up to $50,000 worth of stock in a commercial real-estate firm.
Allen, a four-term Republican who represents a large southeastern region of Georgia, appears to have improperly disclosed the purchases and sales of several stocks during 2019 and 2020.
Schrier was more than two months late disclosing that her husband purchased up to $1 million in Apple Inc. stock, Sludge and Forbes reported. Schrier’s office told Insider that the congresswoman was initially unaware of the transaction.
Schrader failed to disclose two stock trades from December 2021 on time.
Kelly was more than seven weeks late reporting a stock purchase made by his wife.
Jacobs was months late filing various transactions made throughout early- to mid-2021, Forbes reported.
Scott was months late in disclosing a pair of stock sales from December 2020, Forbes reported. NPR also reported several other late transactions, as first identified by the nonpartisan Campaign Legal Center.
Scott, a Republican from Georgia, was a week late reporting a handful of transactions conducted by his spouse.
Perlmutter ran a few days late in filing disclosures for as much as $30,000 in stock trades his wife made in June.
Evans in December 2021 failed to properly disclose a sale of up to $15,000 worth of stock in American Electric Power Co. Inc.
Suozzi failed to file required reports on about 300 financial transactions, NPR reported, citing research from the Campaign Legal Center. In March 2022, Suozzi disclosed more than 30 stock trades months or years past a federal deadline, Insider reported. In May 2022, he disclosed 10 more stock trades weeks past the federal deadline for doing so.
Davidson didn’t properly disclose the sale of stock worth up to $100,000, reported NPR, citing Campaign Legal Center research.
Gooden failed to file mandatory periodic transaction reports for a dozen stock transactions, per the STOCK Act, reported NPR, citing Campaign Legal Center research. Gooden’s office disputed to the Dallas Morning News that the lawmaker did anything wrong.
Fleischmann, a Republican from Tennessee, was late in disclosing a pair of stock transactions together worth up to $30,000.
In December 2021, Burgess failed to disclose on time the sale of 100 stock shares in health insurer Cigna Corp.
During 2019 and 2020, Axne didn’t file required periodic transaction reports for more than three-dozen trades, reported NPR, citing research by the Campaign Legal Center.
San Nicolas did not properly disclose two trades — one in 2019 and another in 2020, reported NPR, citing Campaign Legal Center research.
Welch, an outspoken environmentalist, was late disclosing the sale of his wife’s ExxonMobil stock. In December, Welch’s office told Insider that the congressman and his wife would both stop trading individual stocks.
Banks was a week late reporting a handful of stock transactions.
Garcia was late disclosing several stock trades he made in mid-2020, as first reported by the American Independent.
Wittman was a few days late in disclosing four of his stock transactions that included pharmaceutical company Johnson & Johnson.
Lowenthal was late disclosing his wife’s purchase of a corporate bond in cloud computing and technology company VMWare, worth between $15,001 and $50,000, Forbes reported. “We have no comment,” Lowenthal spokesman Keith Higginbotham told Insider on November 18.
In June, Lowenthal violated the STOCK Act again when he was months late disclosing four stock or corporate bond trades.
Hagedorn was more than three months late disclosing the sale of stock in a company that makes colon cancer-screening products. Hagedorn died in February 2022.
Williams did not properly report three stock transactions his wife made in 2019, reported NPR, citing Campaign Legal Center research.
