Even more lawmakers apparently violate house stock trading rules

0

TThree lawmakers apparently violated House rules on stock trading, while another congressman bought shares in an oil company just days after defending the company at a hearing on Capitol Hill.

Representative Kim Schrier (D-Wash.) Said on Friday he bought an Apple stake worth more than $ 500,000 from a joint account in July. Federal law requires lawmakers to report securities transactions within 45 days.

“Representative. Schrier was not aware of the transaction, which was carried out by her husband who manages their finances independently,” said Elizabeth Carlson, spokeswoman for Schrier, in a statement. Having heard of it, she filed the required report. She has never missed a transaction reporting deadline and will ensure that all these deadlines are met in the future. ”


To subscribe to Forbes Checks and Balances Newsletter for an in-depth look at the politicians, businesses, and money flowing around Washington, DC


Rep. Alan Lowenthal’s (D-Calif.) Wife spent more than $ 15,000 on bonds at tech firm VMWare on September 10, a transaction he did not reveal until November 10. And earlier this month, Representative Richard Allen (R-Ga.) Reported a June purchase of more than $ 15,000 of shares in Dover, an industrial manufacturer. This was not the first time Allen had taken more than 45 days to report a transaction. Spokesmen for members of Congress did not respond to inquiries.

Media organizations, including Forbes, identified 47 lawmakers who reported their stock transactions late, according to a tally maintained by Initiated.

Representative Bob Gibbs (R-Ohio) reported his purchase of over $ 1,000 from Exxon Mobil within 45 days, but it’s still remarkable. The exchange came 12 days after Gibbs defended oil executives who testified before the House Committee on Oversight and Reform. During the hearing, Gibbs called it “shameful” that Democrats are demonizing the oil and gas industry. Gibbs’ entanglements with the oil industry go beyond his personal investments. His campaign received $ 42,000 from oil industry groups who testified before his panel.

Gibbs’ office did not respond to an investigation.


Source link

Share.

Comments are closed.