Ethics Watchdog Calls for Probe into Rep. Maloney for Financial Reporting Violations
Updated: Jul 6, 2021
Evidence Shows Rep. Maloney Violated Federal Law and House Ethics Rules
Washington, D.C.— April 14, 2021— Today, the non-partisan ethics watchdog, the Foundation for Accountability and Civic Trust (FACT), filed a complaint requesting the Office of Congressional Ethics (OCE) hold Representative Sean Patrick Maloney (NY) accountable for failing to disclose financial transactions as required by law.
Federal law and House Ethics rules require Members to disclose financial information to the public, including reports that provide a “full and complete” statement of the Member’s assets, debts, income. In addition to an annual report, a Member must file a periodic report anytime they have a financial transaction that exceeds $1,000, which must be filed a maximum of 45 days from the date of the transaction.
Recent reporting shows that Rep. Maloney failed to disclose eight stock transactions valued at $11,051. The stock trades occurred in June 2020 and were not reported until April 2021, well after the 45 day window.
“Not disclosing stock transactions violates the law, and his office describing it as ‘routine' shows a complete disregard for the ethics rules. This is an important and well-known law and is the only way for citizens to assess whether a Member has a conflict of interest or is personally benefiting from official action. The OCE should hold Rep. Maloney accountable for his failure to file timely and accurate financial disclosures as required by law and impose the proper penalties,” said Kendra Arnold, Executive Director of FACT.
A full copy of the complaint can be found by clicking HERE
FACT is a nonprofit organization dedicated to promoting accountability, ethics, and transparency in government and civic arenas. For more on FACT, visit: http://www.factdc.org/