Congressional Stock Trade Violations Abound Despite Ethics Rules
-
At least 39 members of the 118th Congress have violated the STOCK Act by failing to properly disclose personal stock trades within 45 days. Violations span both parties.
-
Excuses given range from clerical errors to issues with filing software to advisers not properly informing members. Fines are typically just $200.
-
Bipartisan support exists for banning congressional stock trading. Several bills have been introduced recently to limit or prohibit members trading individual stocks.
-
House and Senate Ethics Committees provide little transparency around STOCK Act rules and enforcement. Guidance appears contradictory in some cases.
-
Additional members have violated rules requiring annual financial disclosures, with over a dozen filing 2022 reports late. Disclosures give snapshot of finances.