Democrat on powerful House Ways and Means Committee apparently violated stock market rules
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.
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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. âThe congressman’s investments are managed by independent advisers with discretion over all transactions,â 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.