Tag: STOCK Act

Representative Luria Blasts Spanberger-Led Effort to Limit Congressional Stock Trading

Eric Burk

Representative Elaine Luria (D-VA-02) criticized efforts to regulate congressional stock trading which Representative Abigail Spanberger (D-VA-07) is championing.

“So my thoughts on it, you know, I think this whole concept is bull***t. Because I think that, why would you assume that members of Congress are going to be inherently bad or corrupt? We already have the STOCK Act that requires people to report stock trades. Why would you assume – I mean, the people that you’re electing to represent you, it makes no sense that you’re going to automatically assume that they’re going to use their position for some nefarious means or to benefit themselves. So I’m very strongly opposed to any legislation like that,” Luria told Punchbowl News this week.

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

Eric Burk

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

Admin

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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