Financial disclosures in the news this week
Congressional financial disclosures were a hot topic in the news this week.
Rep. Spencer Bachus (R-Ala.) is the latest lawmaker to land in hot water regarding his disclosures. The chairman of the House Financial Services Committee is under investigation by the Office of Congressional Ethics for possible insider trading, the Washington Post reported. The investigators are reportedly focusing on trades in the financial services industry Bachus reported on his financial disclosures which coincide with policy announcements that affected those companies.
Earlier this week, it was Rep. Vern Buchanan (R-Fla.) whose financial disclosures were in the spotlight. Buchanan is the subject of an investigation for failing to disclose several positions he held with various companies between 2007 and 2010. This week, the Office of Congressional Ethics released a report with details on the investigation and recommending the House Ethics Committee further investigate.
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