Democrat on powerful House Ways and Means Committee apparently violated stock market rules

0


Rth. Tom Suozzi (D-NY), Democrat on the House Ways and Means Committee, is the latest congressman not to comply with a federal law that requires lawmakers to report securities transactions within 45 days.

On Thursday, Suozzi revealed that he had failed to properly disclose more than $ 6 million in transactions dating back to January 2017.

The Ways and Means Panel is the House’s primary tax drafting committee, giving Suozzi influence over many of the companies he invests in.


To subscribe to Forbes’ Checks & Imbalances Bulletin for an in-depth look at the politicians, businesses, and money flowing around Washington, DC


The Democrat’s office did not respond to an investigation. But in a statement to NPR, which pointed out some of Suozzi’s late disclosures earlier this week, a spokesperson acknowledged the mistake. “The congressman’s investments are managed by independent advisers with discretion over all transactions,” the representative said. “Each transaction has been reported in its annual financial disclosure, and all appropriate periodic disclosures will be filed in the future.”

More than 5% of members of Congress were late in reporting stock transactions in 2021, according to an Insider tally.

Follow me on Twitter or LinkedIn. To verify My website. Send me a secure tip.

I took an unusual route to get here. In a previous life I worked as a travel and food writer, so I got the assignment in 2016 to cover the grand opening of the

I took an unusual route to get here. In a previous life I worked as a travel and food writer, so I got the assignment in 2016 to cover the grand opening of the Trump International Hotel in Washington, DC, a few miles from my home. . When Trump won the election and refused to hand over his business, I stayed on the story, launching a newsletter called 1100 Pennsylvania (named after the hotel address) and contributed to Vanity Fair, Politico and NBC News. I’m still interested in Trump, but I’ve widened my scope to also follow money tied to other politicians, both Republicans and Democrats.



Leave A Reply

Your email address will not be published.