{"id":1500140,"date":"2022-06-01T16:15:39","date_gmt":"2022-06-01T20:15:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1500140"},"modified":"2022-06-01T16:16:28","modified_gmt":"2022-06-01T20:16:28","slug":"texas-rep-failed-to-file-timely-stock-trades-worth-millions-house-ethics-office-finds","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/texas-rep-failed-to-file-timely-stock-trades-worth-millions-house-ethics-office-finds\/","title":{"rendered":"Texas Rep \u2018Failed To File Timely\u2019 Stock Trades Worth Millions, House Ethics Office Finds"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/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%2Ftexas-rep-failed-to-file-timely-stock-trades-worth-millions-house-ethics-office-finds%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=1500140&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>The House\u2019s ethics office found a GOP congressman likely violated federal law by disclosing up to $21 million worth of stock trades long past the filing deadline, according to a report published Tuesday.<\/p>\n<p><span>The Office of Congressional Ethics (OCE) said there is \u201csubstantial reason to believe\u201d Texas Rep. Pat Fallon \u201cfailed to file timely\u201d periodic transaction reports for 122 transactions in accordance with the STOCK Act, <\/span><a href=\"https:\/\/ethics.house.gov\/sites\/ethics.house.gov\/files\/documents\/OCE%20Report%20and%20Findings_10.pdf\"><span>according<\/span><\/a><span> to the OCE\u2019s report.\u00a0<\/span><\/p>\n<p>Fallon\u2019s transactions, worth between $9 million and $21 million, included trades of Apple, Amazon, American Airlines, Chevron and Walt Disney. He also <a href=\"https:\/\/www.documentcloud.org\/documents\/20974265-rep-patrick-fallon-trades\">purchased<\/a> between $300,000 and $750,000 worth of Boeing stock while sitting on the Armed Services Committee.<\/p>\n<p>The Republican was four months late in reporting 93 trades worth up to $17.53 million that were disclosed in June 2021, according to the report. Roughly one month later, Fallon disclosed 26 transactions worth up to $3.1 million and paid a total of $600 in fines in August, according to the OCE.<\/p>\n<p><span>\u201cRep. Fallon\u2019s case is yet another example of why transparency alone is not enough to protect the public\u2019s trust in Congress because voters have a right to know that their elected officials are not making decisions based on their personal financial interests,\u201d Campaign Legal Center (CLC), a nonpartisan watchdog group, <a href=\"https:\/\/campaignlegal.org\/update\/ethics-panel-finds-another-lawmaker-violates-stock-act-following-clc-complaint\">said<\/a> in a statement.<\/span><\/p>\n<p><span>The STOCK Act passed in 2012 and amended the Ethics in Government Act of 1978 by requiring members of Congress to report their stock transactions of $1,000 or more within 30 days of receiving notice and within 45 days of the transaction\u2019s date. <\/span><a href=\"https:\/\/dailycaller.com\/2022\/05\/14\/richard-blumenthal-intel-stocks-competes-ethics\/\"><b>(RELATED: Sen. Blumenthal\u2019s Family Splurged On Intel Stock Before He Voted For A Massive Subsidy Bill)<\/b><\/a><\/p>\n<p><span>Fallon, who assumed office in 2021, was the subject of a <\/span><a href=\"https:\/\/campaignlegal.org\/sites\/default\/files\/2021-07\/OCE%20Complaint%20Rep%20Fallon_Final%207-29.pdf\"><span>complaint<\/span><\/a><span> by CLC in July of last year alleging that the Republican violated the STOCK Act in disclosing the transactions late.\u00a0<\/span><span>CLC also criticized Fallon as perhaps \u201cknowingly\u201d doing so, given his role on the Armed Services Committee which oversees the government\u2019s relationship with contractors.<\/span><\/p>\n<div id=\"attachment_7441408\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-7441408\" class=\"wp-caption-text\">(Photo by Rod Lamkey-Pool\/Getty Images)<\/p>\n<\/div>\n<p><span>Fallon\u2019s office did not respond to The Daily Caller News Foundation\u2019s request for comment.<\/span><\/p>\n<p><span>The OCE also found that Fallon \u201crefused to cooperate\u201d with its probe into his finances. The congressman first addressed his late filings in June 2021, when a spokesman claimed he \u201cwas unfamiliar with how frequently\u201d members have to file disclosures, <a href=\"https:\/\/www.businessinsider.com\/pat-fallon-congress-texas-stock-trades-boeing-2021-6\">Insider<\/a> reported.<\/span><\/p>\n<p><span>\u201cUpon learning of the requirement, he immediately filed a disclosure with the appropriate entities,\u201d the spokesman said. \u201c<\/span><span>That disclosure is available for the public to review. Congressman Fallon looks forward to remaining in compliance with future filings.\u201d<\/span><\/p>\n<p><span>A lawyer for Fallon made a similar claim in a December 2021 letter, claiming that the congressman \u201cdid not realize\u201d periodic transaction reports were required for \u201cbroker-initiated transactions,\u201d according to the OCE\u2019s report. All freshman members receive ethics training within 60 days of being sworn in and Fallon\u2019s office<\/span><span>\u00a0previously <\/span><a href=\"https:\/\/www.dallasnews.com\/news\/politics\/2021\/06\/30\/rep-pat-fallon-fails-to-properly-disclose-stock-trades-worth-millions-may-face-ethics-violation\/\"><span>confirmed<\/span><\/a><span> that he participated in such training.\u00a0<\/span><\/p>\n<p><span>\u201cIn summary, evidence collected by The OCE reveals that Rep. Fallon, throughout his first year in Congress, failed to file timely disclosures pursuant to the STOCK Act,\u201d the OCE said. \u201cAdditionally, the brokerage statements he provided suggest, and his attorney indicated, there are additional errors and omissions that warrant further correction.\u201d<\/span><\/p>\n<p>OCE is calling on the House Ethics Committee to probe the situation further and issue subpoenas to make Fallon cooperate.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House\u2019s ethics office found a GOP congressman likely violated federal law by disclosing up to $21 million worth of stock trades long past the filing deadline, according to a<\/p>\n","protected":false},"author":381,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1500140","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\/1500140","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\/381"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1500140"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1500140\/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=1500140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1500140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1500140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}