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Stock Act

All articles tagged with #stock act

business18 days ago•4 min saved

Congress Members Report SpaceX Stock Purchases Following IPO

Two members of Congress disclosed SpaceX stock purchases after SpaceX's June IPO: Rep. Dan Meuser’s dependent child bought between $15,001 and $50,000, and Rep. Gil Cisneros bought between $1,001 and $15,000. Both say they do not manage trades or use nonpublic information, and the disclosures comply with the STOCK Act. Given their committee assignments (Financial Services and Armed Services), the trades are politically sensitive, and watchdogs expect more SpaceX disclosures as more financial filings surface.

via CNBC|

#business #congress #ipo

politics2 months ago•23 min saved

Trump’s Q1 Stock Blitz Sparks Push to Bar Politicians from Trading

Trump filed an OGE Form 278-T showing 3,642 stock trades in Q1, with many large transactions that raise questions about the influence of policy on portfolios or vice versa. While no laws were broken, the volume and timing highlight concerns about conflicts of interest, the effectiveness of the STOCK Act, and a growing bipartisan push to ban elected officials from buying or selling individual stocks to protect market trust.

via 24/7 Wall St.|

#ethics #market-fairness #politics

politics2 years ago•8 min saved

"Congressional Stock Trading Law Yields Unexpected Profits"

Despite the STOCK Act's intention to curb insider trading by Congress members, lawmakers continue to outperform the market, inspiring new investment products that mimic their trades. This has led to a profitable industry based on tracking congressional stock activity, highlighting flaws in the law and prompting calls for stricter reforms to restore public trust.

via NPR|

#congress #etfs #ethics-reform

politics3 years ago•1 min saved

"Congresswoman's Stock Move Reflects Wall Street's Uncertainty Over Regional Banks"

Democratic Congresswoman Lois Frankel sold First Republic Bank stock before its collapse and bought JPMorgan stock just before JPMorgan purchased First Republic, according to a financial disclosure report. Frankel's account is managed independently by a money manager who buys and sells stocks at his discretion. Members of Congress are prohibited from knowingly trading, buying, or selling stocks based on material information obtained in their official capacity. Compliance with the law has been sporadic given the lack of enforcement mechanisms. There have been efforts to strengthen the law, including the reintroduction of the TRUST in Congress Act, which would ban members of Congress and their families from trading individual stocks.

via CNN|

#congress #first-republic-bank #jpmorgan