‘Ban Buying and Selling of Individual Shares of Stock’ by Lawmakers: Peter Schweizer

Peter Schweizer, author of the 2011 book “Throw Them All Out,” said it’s still “very hard” to prove a member of Congress has engaged in insider trading despite the passage of the STOCK Act almost 10 years ago.

Schweizer called on Congress to ban lawmakers from buying and selling individual stocks.

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Watchdog Requests Ethics Investigation into Rep. Scott’s Financial Reporting of Stock Trades

The Campaign Legal Center (CLC) alleges that Representative Bobby Scott (D-Virginia-03) may have failed to file periodic reports disclosing up to $60,000 in stock transactions. On Wednesday, the CLC filed a complaint with the House Office of Congressional Ethics (OCE) requesting an investigation into possible violations of the Stop Trading on Congressional Knowledge (STOCK) Act.

“In 2019 and 2020, Rep. Scott appears to have purchased at least four assets with a total value ranging from approximately $4,004 to $60,000 without disclosing the transactions. While Rep. Scott disclosed the ownership of these assets on his annual financial disclosures, he did not file periodic transaction reports (‘PTRs’) for the transactions that resulted in the changes in his stock holdings, as required pursuant to the STOCK Act and House rules. An OCE investigation is necessary to determine whether his failure to file was a violation,” the complaint states.

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The Department of Justice Is Probing Senator Richard Burr’s Stock Trades: Report

The Justice Department is probing a series of stock trades that Senate Intelligence Committee Chairman Richard Burr (R-NC) made in the weeks after receiving briefings about the coronavirus pandemic, CNN reported.

The Justice Department is coordinating with the Securities and Exchange Commission on the matter, and the FBI has contacted Barr, a North Carolina Republican, according to CNN, which cited two people familiar with the matter.

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