Congress Trading: A Surge in STOCK Violations Among Legislators

Congress Trading and STOCK Violations

In recent months, congress trading has come under scrutiny for a record number of STOCK violations. Representative John James has made headlines by reporting 143 trades that violate the STOCK Act. The trades, which should have been filed within 45 days, were instead reported late, triggering concerns regarding ethical practices in the legislative branch.

Impact of ETHICS Act on Future Violations

As scrutiny increases, Representative James' actions highlight worries about compliance among U.S. politicians. His incomplete filing timeline, spanning from August 13 to November 10, showcases a broader trend of infractions occurring post-ETHICS Act advancement.

The Cost of Late Filings

• Underforth potential new fines, he would be liable to pay at least $119,300 for these late reports.
• In contrast, current regulations mandate only $28,600 in fines for his trades, but this penalty seems insufficient given the trade volume exceeding $1.19 million.

Growing Concerns of STOCK Act Violations

• Since the implementation of the ETHICS Act, there have been numerous reports of STOCK Act violations, highlighting a worrying trend.
• James’ case marks the 12th violation since July, demonstrating a rising concern among lawmakers about adhering to financial regulations.

As congress trading activities continue, the spotlight on legislative ethics grows, raising questions about oversight and accountability.