An Insider investigation revealed that the Vermont Democrat was one week late in reporting his wife's purchase of shares in ExxonMobil.
The communications director for the congressman told Insider that he no longer owned individual stocks. The congressman made a similar pledge in April 2020, but this time it's actually backed up by a new filing indicating that he's sold off all of his individual stock.
Patrick Satalin told Insider that the pledge now applies to Margaret Cheney.
The Stop Trading on Congressional Knowledge (STOCK) Act of 2012 is an anti-conflict-of-interest law that was cosponsored by Welch.
According to an investigation published by Insider, 52 members of congress and 182 senior congressional staffers are in violation of the federal insider trading prevention law.
More than a dozen Democrats who invest in fossil fuel companies or other corporations with environmental track records were uncovered by Insider.
Nancy Pelosi rejected the idea of banning members of Congress and their spouses from trading stocks while they are serving. We are a free-market economy. She said that they should be able to participate.
As part of Insider's index of each member's compliance with transparency rules, Welch earned a "Borderline" rating, which indicates having a few STOCK Act violations either by members or their staffers.
The Foundation for Accountability and Civic Trust filed a complaint with the Office of Congressional Ethics last week, calling for a full investigation of the matter.
The complaint was not commented on by the office.
After Sen. Pat Leahy announced his retirement, he launched a Senate campaign and got the endorsement of Sen.
The clearest way to avoid a conflict.
On July 20, 2021 in Washington, DC, Welch speaks at a climate rally.
The Green New Deal Network has Shannon Finney.
Insider reported in November that Margaret Cheney, the congressman's wife, sold her shares of ExxonMobil stock on September 17 after taking over the asset from her mother.
His office says that he learned of the trade three days before he grilled the oil company's CEO during a House Committee on Oversight and Reform hearing. The data and information about climate change was not provided by ExxonMobil.
"Credibility is the issue here," said the outspoken environmentalist before engaging in a pointed exchange with Woods at the hearing.
While oil companies didn't initially know about climate change, they were the first to learn about it and hid it, according to a long-time critic of ExxonMobil.
The sale was disclosed twelve days later.
His spokeswoman said that the transaction had no impact on his questioning of ExxonMobil's chief executive officer about the company's failure to disclose internal documents warning of the dangers of climate change.
The conservative group questioned the ExxonMobil CEO after his wife sold her stock.
The executive director of FACT said that the case was egregious because his office acknowledged that he knew of the transaction prior to the reporting deadline and grilled the ExxonMobil CEO about transparency and credibility just days later.
On December 17th, he filed a Periodic Transaction Report that said he dumped all of his individual stocks in late November.
Jones told Insider that the congressman's decision to forgo individual stocks was reflected in the filing, and that he was a supporter of ethics reform and transparency in government. Members of Congress would not be allowed to buy and sell individual stocks under a bill introduced in March.
After VTDigger found that he had profited from his financial manager's investment in a COVID-19 testing firm, he pledged to stop trading individual stocks in 2020.
He told VTDigger in April 2020 that he had made a decision to stop buying individual stocks directly and indirectly through his adviser. He instructed his financial advisor to only invest in mutual or exchange-traded funds.
The pledge was undermined by a disclosure filed by the congressman in August, which showed that he still owned several individual stocks.
Insider asked about what type of financial investments he might make in the future, what he thought of Pelosi's remarks on stock-trading, and why he failed to live up to his pledge until now.
