stock act

Grand Jury Probes Capitol Knowledge & Stock Trading

A New York federal grand jury and the Securities and Exchange Commission have issued subpoenas for a Congressional committee staff member who may have information about providing knowledge of Congressional action on health care policy to stock traders on Wall Street.  

The subpoenas were issued for documents, as well as the testimony of Brian Sutter , staff director of the Ways and Means subcommittee on health, according to an article  by Brody Mullins and Andrew Ackerman in the Wall Street Journal. On May 9th, Sutter notified  the House of Representatives he had received the New York subpoena.  

Rep. Black Buys Comcast, Rep. Peters Sells APCO, Sen. Hoeven Buys Boeing

Even while Congress is legislating and providing oversight of the executive branch and government agencies, members of Congress are buying and selling stocks, according to new periodic disclosure reports of financial transactions required by the Stop Trading on Congressional Knowledge (Stock) Act.  

Rep. Diane Black, R-Tenn.,  the 14th richest member of Congress, reported her spouse bought $50,001 to $100,000 of Comcast Corporation on April 1st, and bought another $50,001 to $100,000 of Comcast on April 3rd. Black's spouse also bought $1,000,001 to $5 million of York Capital Management on March 31st. On April 3rd, he bought $100,001 to $250,000 of Unilever and the same amount of Zoeis Inc. on April 3rd.  

Members of Congress Buying and Selling Stocks

Rep. Tom Petri

   

Members of Congress continue to report their periodic stock transactions as required by the Stop Trading on Congressional Knowledge (STOCK) Act. Meanwhile the House Ethics Committee is still looking into a member's stock purchases in a company that would benefit from legislation being considered by his subcommittee, as well as actions the Congressman took to help a company he invested in to retain a billion dollar defense contract.