Three More Senators Violated the STOCK Act

by GennaroIsGod

At least two more Democrats and a Republican senator failed to report stock transactions last year as a ban on congressional stock trading flounders in a Senate working group.

The deadline for members of Congress to file their annual financial disclosures for 2021 was May 16. But as usual, most members availed themselves of a 90-day extension that will give them until sometime in August to release their reports. The disclosures list their household assets, as well as other information like outside positions and travel reimbursements, and are often dumped online as hundreds of pages of illegible paper scans.

In the Senate, just 23 senators filed their 2021 annual disclosures by the deadline. A review of this batch of disclosures shows that last year at least three more senators appear to have violated the STOCK Act’s requirement that they disclose certain financial transactions made by their households within 45 days.

Two senators, Democrats John Hickenlooper of Colorado and Gary Peters of Michigan, filed periodic transaction reports (PTRs) on May 16, 2022, for transactions they made in 2021. The transactions were also included in their 2021 annual disclosures. The third, Republican Jerry Moran of Kansas, has not yet addressed his missing periodic transaction report from last year for stock transactions that appeared in his 2021 annual disclosure for the first time.

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This is in addition to the other 61 members of congress breaking the law:

Don’t worry though, they’ll be financially penalized!

While lawmakers who violate the STOCK Act face a fine, the penalty is usually small — $200 is the standard amount — or waived by House or Senate ethics officials. Ethics watchdogs and even some members of Congress have called for stricter penalties or even a ban on federal lawmakers from trading individual stocks. On Capitol Hill, lawmakers are now seriously debating such a ban.


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