Nevada Democrat failed to properly disclose stock trades: report
Over 200 personal stock trades appeared to fail to be properly disclosed by Rep. Susie Lee (D-Nev.), according to an analysis of congressional reports by Insider.
Stock trade transactions, which the news outlet estimated could be worth up to $3.3 million together, appeared to be filed days or weeks late, Insider reported, after examining seven reports sent to Congress between February 2020 and May 2021.
The transactions include stock trades of Williams-Sonoma Inc., Carnival Corp. and Planet Fitness Inc., among others that were either bought or sold by Lee or her husband, Insider reported.
In a statement to The Hill, Zoe Sheppard, communications director for Lee, said, “While Congresswoman Lee has filed all reportable transactions, there have been a small number of previously unnoticed clerical errors that are being promptly addressed in consultation with the House Ethics Committee” in response to why the disclosures were late.
Sheppard told Insider that no late fines had been given to Lee currently.
According to the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act), members of Congress have within 30 days of being notified about a stock transaction and no more than 45 days since the trade took place to file a report about their stock trade.
If filings made past the deadline are not over 30 days late, the $200 fine is often dropped by congressional officials, Insider noted.
A legal ethics expert with Campaign Legal Center’s told Insider that it did not look as though Lee was trying to intentionally violate the STOCK Act or conceal finances through the late disclosures.