House Quickly Kills Staff STOCK Act Disclosures on Internet
The House of Representatives agreed Friday to the Senate passed S. 716 to exempt congressional staff and executive branch staff from the requirement in the
to exempt congressional staff and executive branch staff from the requirement in the Stop Trading on Congressional Knowledge (STOCK) Act to publish their stock trades and financial activity on the Internet. See Roll Call article on
Stop Trading on Congressional Knowledge (STOCK) Act
to publish their stock trades and financial activity on the Internet. See Roll Call article on Obama, House Follow Senate’s Lead on STOCK Act.
Meanwhile, members of Congress must still make public their stock trades: On 4/9 Rep. Lloyd Doggett (D-Texas) reported he and his spouse sold $100,0001 to $250,000 of stock in Exxon Mobil Corp.; sold $100,001 to $250,000 of stock in Merck & Co. Inc.; sold $100,001 to $250,000 of stock in Apache Corp.; and sold $100,001 to $250,000 in stock of Chevron. On 4/10 Rep. Vernon Buchanan (R-Fla.) reported his spouse purchased $250,001 to $500,000 in Aston Funds Value Fund I. On 4/11 Sen. Tom Coburn (R-Okla.) reported he made numerous purchases and sales of options in SalesForce.com, Netflix, and Google Inc.
The House action came several days after it was disclosed that the Federal Reserve had inadvertently sent an early email of the Federal Reserve’s March meeting to 154 individuals, some of them Congressional staff, prior to the scheduled public release. No trades have been reported as a result of the early release of the market sensitive information, although the Securities and Exchange Commission has been notified.
The 42 House staff receiving the email included: Michael Ahern, Neil Bradley, Courtney Box, Chris Brown, Tim Carey, Jim Clinger, Fabrice Coles, Sarah Curtis, Aaron Cutler, Milan Dalal, Glen Downs, Jeff Emerson, Tim Flynn, Annie Fultz, Harry Gural, Ellen Gwaltney, Noah Jacobson, Andy Koenig, James Lizarraga, Roger Mahan, Bret Manley, Claire Manatt, Wes McClelland, Marliss McManus, Frank Medina, Kristen Mork, Jeffrey Mundy, Geoffrey Okamoto, Gregg Orton, Charles Ouertatani, Wayne Payne, Richard Pecantte, Joe Pinder, Wendell Primus, Krisin Richardson, Edward Skala, John Smith, Michael Sommers, Lawranne Stewart, John Taets, Matthew Tully, and Nida Zaman.
A list of individuals at financial companies and organizations who received the early email appears in a 4/11 Political MoneyLine article. A list of Senate staffers who received the early email appears in a 4/12 Political MoneyLine article.