The STOCK Act, also known as the Stop Trading on Congressional Knowledge Act of 2012, was approved by Congress to specify financial integrity.
The law was created by Congress ten years ago to prevent insider trading and conflicts of interest between their own members and to compel legislators to be more open about their private financial affairs.
A key part of the bill requires parliamentarians to publicly and promptly declare any stock trades they, their spouses, or their dependent children have made.
However, a large number of Congressmen have not abided by the law completely.
71 members of Congress have been identified by Insider and several other news sites as having recently violated the law by failing to properly disclose their financial transactions.
The infractions range from filing reports inadvertently, often months or even years later, to not filing any necessary federal reports at all.
Some members of Congress have not submitted numerous reports.
They provide defenses such as lack of legal knowledge, administrative faults, and errors made by an accountant.
Insider’s ongoing reporting project “Conflicted Congress,” which was first published in December, details the prevalence of this behavior.
While there is a fine for breaking the STOCK Act, it is typically minimal ($200 is the standard amount) or is waived by House or Senate ethics officers.
It could be worthwhile to pay the relatively minor fee given the money gained through the transfer of stock.
The following lawmakers have recently been found to have violated the STOCK Act, in one way or another:
Sen. Dianne Feinstein, a Democrat from California, Sen. Tommy Tuberville, a Republican from Alabama, Sen. Roger Marshall, Sen. John Hickenlooper, a Democrat from Colorado, Sen. Rand Paul, a Republican from Kentucky, Sen. Sheldon Whitehouse, a Democrat from Rhode Island, Sen. Rick Scott, a Republican from Florida, Sen. Tom Carper, a Democrat from Delaware, Sen. Bill Hagerty, a Republican from Tennessee, Sen. Cynthia Lummis, a Republican from Wyoming.
Sen. Gary Peters, a Democrat from Michigan, Rep. Susie Lee, a Democrat of Nevada, Rep. Madison Cawthorn, a Republican from North Carolina; Rep. Katherine Clark, a Democrat from Massachusetts; Clark, one of the highest-ranking Democrats in the House, Sen. Mark Kelly, a Democrat from Arizona.
Rep. Tom Malinowski, a Democrat from New Jersey, Rep. Pat Fallon, a Republican from Texas, Rep. Diana Harshbarger, a Republican from Tennessee, Rep. Blake Moore, a Republican from Utah, Rep. Jamie Raskin, a Democrat from Maryland, Rep. Mo Brooks, a Republican from Alabama, Rep. Lauren Boebert, a Republican from Colorado.
Rep. Dan Crenshaw, a Republican from Texas, Rep. Debbie Wasserman Schultz, a Democrat from Florida, Rep. Kathy Manning, a Democrat from North Carolina, Rep. Mikie Sherrill, a Democrat from New Jersey, Rep. Kevin Hern, a Republican from Oklahoma, Rep. Brian Mast, a Republican from Florida.
Rep. Brad Schneider, a Democrat from Illinois, Rep. Michael Guest, a Republican from Mississippi, Rep. Sean Patrick Maloney, a Democrat from New York, Rep. Lori Trahan, a Democrat from Massachusetts, Rep. Mary Gay Scanlon, a Democrat from Pennsylvania, Rep. John Rutherford, a Republican from Florida.
Rep. Josh Gottheimer, a Democrat from New Jersey, Rep. Mark Green, a Republican from Tennessee, Rep. David Trone, a Democrat from Maryland, Rep. Pete Sessions, a Republican from Texas, Rep. Dan Meuser, a Republican from Pennsylvania, Rep. Vicente Gonzalez, a Democrat from Texas.
More on this story via The Republic Brief:
Rep. Kathy Castor, a Democrat of Florida, Rep. Maria Elvira Salazar, a Republican from Florida, Rep. Bill Pascrell, a Democrat of New Jersey, Rep. August Pfluger, a Republican from Texas, Rep. Brian Higgins, a Democrat from New York, Rep. Cheri Bustos, a Democrat from Illinois, Rep. Steve Chabot, a Republican from Ohio, Rep. Victoria Spartz, a Republican from Indiana, Rep. Rick Allen, a Republican from Georgia.
Rep. Kim Schrier, a Democrat from Washington, Rep. Kurt Schrader, a Democrat from Oregon, Rep. Mike Kelly, a Republican from Pennsylvania, Rep. Chris Jacobs, a Republican from New York, Rep. Bobby Scott, a Democrat from Virginia, Rep. Austin Scott, a Republican from Georgia. CONTINUE READING…