Anti-corruption law looks to prevent conflicts of interest.
A recent investigation reveals that 14 legislators from both the House and Senate may be in violation of the Stop Trading on Congressional Knowledge Act (or STOCK Act). The report said there are dozens of instances in which legislators and their top staffers broke the federal law. The 14 legislators who allegedly failed to disclose financial trades include members of both parties.
The STOCK Act, which has been in effect for nearly a decade, requires those elected to Congress to make their stock trades public within 45 days of the transaction.
It was also reported that at least 75 legislators held investments in vaccine manufacturers in 2020 as the pandemic took hold. Several of those legislators shaped public policy, more than dozen invested in military contractors, and several have investments in energy companies.
A spokesman for one of the legislators said she has “complied with the laws, been completely transparent in her filings, and has followed best practices by putting her personal assets in a qualified blind trust.”
As the Lord Leads, Pray with Us…
- For America’s legislators to be free from the influence their own investments might have in developing policy and law.
- For members of Congress to be transparent about their personal holdings.
- For transparency in the activities of lobbyists.
Sources: Washington Examiner, Business Insider
