Representative Darrell Issa is facing scrutiny after a significant violation of the STOCK Act, disclosing $175 million in Treasury transactions more than 500 days late. While the typical fine for such violations is a mere $200, enforcement of these penalties remains inconsistent, fueling concerns about accountability in Congress.
The STOCK Act, intended to curb insider trading and promote transparency, has been widely criticized for its lax enforcement and minimal penalties. Numerous lawmakers have violated the act without facing serious repercussions, raising questions about the law’s effectiveness in holding officials accountable.
The STOCK Act requires members of Congress to disclose stock trades within 30 to 45 days, depending on when they learn about the transaction. If they fail to meet this deadline, they face a fine of $200 for a first-time infraction.
Sources:
campaignlegal.org/update/repeat-stock-act-violations-senators-make-case-new-legislation
act.represent.us/sign/stock-act-needs-fixing-now-and-heres-why