{"id":1103848,"date":"2021-12-09T19:13:32","date_gmt":"2021-12-10T00:13:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1103848"},"modified":"2021-12-09T19:13:36","modified_gmt":"2021-12-10T00:13:36","slug":"democratic-rep-traded-stocks-for-companies-her-committee-conducts-oversight-of","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democratic-rep-traded-stocks-for-companies-her-committee-conducts-oversight-of\/","title":{"rendered":"Democratic Rep. Traded Stocks For Companies Her Committee Conducts Oversight Of"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocratic-rep-traded-stocks-for-companies-her-committee-conducts-oversight-of%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1103848&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Democratic Iowa Rep. Cindy Axne traded up to $135,000 in the stocks of companies that she conducts direct oversight of, transaction reports filed with the Clerk of the House of Representatives show.<\/p>\n<p>Axne, a member of the House Financial Services Committee, traded up to $45,000 worth of stock in Global Payments Inc., up to $45,000 worth of stock of the Markel Corporation, up to $30,000 worth of stock in Visa and up to $15,000 worth of stock in Mastercard, according to a transaction <a href=\"https:\/\/disclosures-clerk.house.gov\/public_disc\/ptr-pdfs\/2021\/20019824.pdf\">notice<\/a> she filed on Tuesday. Axne\u2019s trades were first <a href=\"https:\/\/readsludge.com\/2021\/12\/08\/financial-services-dem-buys-and-sells-finance-stocks\/\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a> Wednesday by Sludge.<\/p>\n<p>The House Financial Services Committee <a href=\"https:\/\/financialservices.house.gov\/about\/\">conducts<\/a> oversight of major banks, insurance and credit card companies. In addition to the two credit card companies, Global Payments Inc. <a href=\"https:\/\/www.globalpayments.com\/about-us\">produces<\/a> digital payment software and the Markel <a href=\"https:\/\/www.markel.com\/\">Corporation<\/a> is primarily an insurance company. Since Axne joined the House Financial Services Committee in 2019, the committee has held hearings addressing the acquisition and reporting of <a href=\"https:\/\/financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=408090\">credit<\/a>, digital <a href=\"https:\/\/financialservices.house.gov\/events\/eventsingle.aspx?EventID=404240\">payments<\/a> and <a href=\"https:\/\/www.nytimes.com\/2021\/12\/08\/business\/house-financial-services-crypto.html\">cryptocurrencies<\/a>, and insurance.<\/p>\n<div id=\"attachment_7334953\" class=\"wp-caption alignnone\" readability=\"38\">\n<p id=\"caption-attachment-7334953\" class=\"wp-caption-text\">WASHINGTON, DC \u2013 DECEMBER 08: Committee Chair Rep. Maxine Waters (D-CA) (3rd L) speaks as ranking member Rep. Patrick McHenry (R-NC) (L) listens during a hearing before House Financial Services Committee at Rayburn House Office Building on Capitol Hill December 8, 2021 in Washington, DC. The committee held a hearing on \u201cDigital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.\u201d (Photo by Alex Wong\/Getty Images)<\/p>\n<\/div>\n<p>\u201cAs the Congresswoman has made clear previously, she does not oversee her family\u2019s retirement or college savings accounts\u2014which she opened more than a decade ago, long before she came to Congress. Federal law requires her to disclose the transactions in her family\u2019s retirement accounts, even though they are run by a financial advisor and she does nothing to request or approve their actions. These retirement and savings accounts function without her input, and therefore have no bearing on her work as a Representative for Iowa\u2014and the routine disclosures from them should be treated as such,\u201d a spokesperson for Axne told the Daily Caller.<\/p>\n<p>Axne was the target of a recent ethics complaint filed by the Campaign Legal Center over other trades. The group <a href=\"https:\/\/www.desmoinesregister.com\/story\/news\/politics\/2021\/09\/23\/watchdog-campaign-legal-center-wants-ethics-investigation-iowa-rep-cindy-axne-over-stock-trades\/5827271001\/\">alleged<\/a> that Axne violated the STOCK Act, which regulates the financial activities of members of Congress, by failing to disclose 40 trades worth between $43,000 and $645,000. The STOCK Act <a href=\"https:\/\/dailycaller.com\/2021\/01\/19\/north-carolina-sen-richard-burr-will-not-be-charged-for-stock-trades\/\">requires<\/a> that members of Congress report all stock transactions within 45 days of the trade. <strong><a href=\"https:\/\/dailycaller.com\/2021\/07\/19\/fact-harley-rouda-stock-act-trades-ethics-complaint\/\">(RELATED: Ethics Complaint Alleges Democratic Rep. Broke Law By Failing To Disclose Stock Trades)<\/a><\/strong><\/p>\n<p>Some members of Congress have called for elected officials to be banned from trading individual stocks. Democratic New York Rep. Alexandria Ocasio-Cortez <a href=\"https:\/\/krishnamoorthi.house.gov\/media\/press-releases\/members-congress-introduce-bipartisan-legislation-stop-government-officials\">called<\/a> for Congress to take up a <a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/1579\/cosponsors?r=62&amp;s=1\" target=\"_blank\" rel=\"noopener noreferrer\">bill<\/a> she introduced in March with Republicans including Florida Rep. Matt Gaetz and Texas Rep. Michael Cloud that would ban members from trading individual stocks.<\/p>\n<p>\u201cBecause we have access to sensitive information and upcoming policy, I do not believe members of Congress should hold\/trade individual stock and I choose not to hold any so I can remain impartial about policy marking,\u201d she <a href=\"https:\/\/www.cnbc.com\/2021\/12\/09\/should-lawmakers-own-individual-stock-some-members-of-congress-say-no.html\">wrote<\/a> on Instagram.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democratic Iowa Rep. Cindy Axne traded up to $135,000 in the stocks of companies that she conducts direct oversight of, transaction reports filed with the Clerk of the House of &#8230;<\/p>\n","protected":false},"author":67,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1103848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1103848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1103848"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1103848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1103848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1103848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1103848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}