DOJ probing at least one lawmaker's stock trades ahead of coronavirus-driven declines, report says
"When this issue arose, Senator Burr immediately asked the Senate Ethics Committee to conduct a complete review, and he will cooperate with that review as well as any other appropriate inquiry. Senator Burr welcomes a thorough review of the facts in this matter, which will establish that his actions were appropriate," Fisher said in her statement.
SEC Chair Jay Clayton declined to comment Monday during a CNBC interview about whether there was an ongoing investigation into lawmakers' stock moves." that "anyone who is privy to private information about a company or about markets needs to be cautious about how they use that private information." "That's sort of fundamental to our securities laws. And that applies to government employees, public officials, etc., and the STOCK Act codifies that," Clayton said.
The STOCK Act is a 2012 law that bars members of Congress from using inside information from their official positions for private gain.But CNN reported the FBI and SEC will routinely look into stock transactions that have drawn public scrutiny.Loeffler, who sold between $1.25 million and $3.1 million worth of stock in late January and early February, hasThe spokesman also said the senator "has acted in accordance with the letter and the spirit of the law.
Loeffler has said the decisions were made by a third-party investment advisor without her knowledge or the knowledge of her husband, Jeffrey Sprecher. The trades were made by accounts jointly owned by Loeffler and Sprecher.
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