Vermont Democratic Rep. Peter Welch says he and his wife will stop trading in stocks after report showed they’d sold $6,000 in ExxonMobil shares

Sharing is Caring!

Welch was one week late in disclosing his wife’s sale of $6,238 worth of shares of ExxonMobil in September, violating the bill he himself co-sponsored years ago

‘Rep. Welch has decided to no longer own individual stocks,’ the congressman’s communications director Arianna Jones said
Welch has made such a promise before, but this time his office said the pledge applies to his wife

Welch said he learned of his wife’s Exxon trade just before the lawmaker grilled Exxon’s CEO Darren Woods during a House Committee on Oversight and Refor

Democratic Vermont Rep. Peter Welch announced he and his wife would no longer be trading individual stocks after committing a STOCK Act violation by disclosing sale of Exxon Mobile stock one week late.

See also  People Get Ready! Value Stocks UP For 2022 While Growth Stocks DOWN (As Fed Expected To Withdraw COVID Stimulus)

Welch was one week late in disclosing his wife’s sale of $6,238 worth of shares of ExxonMobil in September, violating the bill he himself co-sponsored years ago.

‘Rep. Welch has decided to no longer own individual stocks,’ the congressman’s communications director Arianna Jones told Insider. Welch appears to have made good on his promise to sell off all individual stocks, according to a transaction report.

Welch said he learned his wife made the Exxon trade just before the lawmaker grilled Exxon’s CEO Darren Woods during a House Committee on Oversight and Reform.

Welch said that his wife sold her 113 shares in the oil company on Sept. 17 after inheriting them from her mother’s estate.

He said that he learned of the trade, which his office claims was made by a financial advisor, three days before the hearing, where he accused Exxon of concealing and denying data on climate change.

See also  After Another Great Year for Stocks, Peril Lingers... Bond Market Forecasts Bad News... Retail Sales Slide Sharply... 1970s Wall Street Dr. Doom, Blasts Powell on Inflation...

Welch, an progressive environmentalist who recently launched a Senate campaign, said that Exxon had a ‘credibility’ issue before getting into a heated exchange with Woods.

Twelve days later, Welch disclosed the sale.

House members are required to disclose any financial transaction that exceeds $1,000 within 30 days of notice of the transaction, and never more than 45 days after the transaction.

Forty-five days after the transaction would have been Nov. 1, 2021, but Welch did not disclose the sale until Nov. 9, 2021.

www.dailymail.co.uk/news/article-10348473/Rep-Peter-Welch-says-wife-stop-trading-stocks.html

 

416 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.