Although the bill has gained broad support, Congress failed to act on it before its October recess and its fate is uncertain.
One particularly significant member of Congress has a spouse that is in the spotlight for some trades that did not go well.
A Disclosure Reveals a Loss U.S. House Speaker Nancy Pelosi’s husband was revealed to have lost money as part of the disclosure process. The combined losses from trading in Micron Technology, Nvidia and Walt Disney options totaling nearly $900,000.
The transaction report shows that her husband Paul Pelosi lost $392,575 from selling Micron options he had purchased last December. He also sold Nvidia ຕົວເລືອກການໂທ that total a loss of $361,476. Call options in Walt Disney reported in the disclosure ended up losing $132,824.
The transactions took place on Sept. 16.
About 20 percent of members of Congress from both sides of the aisle traded stocks in 2021, according to UnusualWhales.com.
Other Government Officials Under Scrutiny An investigation of public financial disclosures last week ເປີດເຜີຍ that more than 2,600 executive branch officials invested in stocks of companies their agencies oversaw from 2016 to 2021.
The activity included an official at the Environmental Protection Agency who invested in oil and gas stocks, a Food and Drug Administration employee who was allowed to own forbidden food and drug stocks, and a Defense Department official who bought stock in a company before it inked a deal with the Pentagon.
The Wall Street Journal ລາຍງານ that most of the disclosure documents were not online or easily accessible. “The review amounts to the most comprehensive analysis of investments held by executive-branch officials, who have wide but largely unseen influence over public policy,” the publication said.
The 2,600 officials serving both Republican and Democratic administrations adds up to more than one in five senior employees among 50 agencies who engaged in the practice.
Some provisions in the proposed legislation aimed at Congress are listed below.
The bill covers members of Congress and their spouses. It requires them to divest ownership of individual stocks, bonds, commodities, futures, and other securities including an interest in a ກອງທຶນ hedge , a derivative, an option, or other complex investment vehicles. Members may continue to own and trade common, widely held investment funds (e.g., mutual funds and exchange-traded funds), as long as they do not present a conflict of interest and are diversified. Treasury securities, government employee retirement plans, and interests in small businesses are not covered by the ban. Assets received as compensation from the primary occupation of a member’s spouse are not covered by the ban. A member’s spouse whose primary occupation is to trade assets for clients may continue to engage in that occupation.