Speaker of the House Nancy Pelosi defended the right of members of Congress to trade individual stocks in the face of a report detailing rampant violations of the STOCK Act.
“We have a responsibility to report stock, but I’m not familiar with that five month review,” she said Wednesday, in response to a question about the report from Insider. Insider found that 48 members of Congress and 182 senior aides have violated the STOCK Act, which requires prompt disclosures of the sale of any securities. The publication also revealed that numerous members invested in pharmaceutical stocks in the early days of the COVID-19 pandemic, while other members invest in industries that they are responsible for regulating. (RELATED: Democratic Rep. Cindy Axne Traded Stocks For Companies Her Committee Conducts Oversight Of)-- More...
