House Speaker Nancy Pelosi (D-Calif.) on Feb. 9 said she supports increasing restrictions on members of Congress trading stocks. “We have to tighten the fines on those who violate the STOCK Act. It’s not sufficient to deter behavior,” Pelosi told reporters in Washington during a press conference. Fifty-five members of Congress have violated the Stop Trading on Congressional Knowledge (STOCK) Act, which bars members and employees of Congress from “using nonpublic information derived from their official positions” to inform stock trading, according to an investigation by Business Insider. Pelosi and her husband have made millions from stock trading since she took office in 1987, and U.S. lawmakers and their immediate family members bought and sold an estimated $355 million worth of stocks in 2021 alone, according to a recent analysis. Pelosi has resisted banning members of Congress from trading stocks and did not offer support for such a move while …
Pelosi Says Congress Needs to ‘Tighten the Fines’ on Violators of Congressional Stock Trading Act
February 9, 2022
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