Evidence Shows Rep. Kim Schrier Failed to Disclose up to $1 Million in Stock By Deadline
The non-partisan ethics watchdog, the Foundation for Accountability and Civic Trust (FACT), sent the Office of Congressional Ethics (OCE) a letter calling for an immediate investigation into Washington Representative Kim Schrier for violating federal law and House ethics rules.
Federal law and House Ethics rules require Members to disclose financial information to the public, including financial disclosure reports that provide a "full and complete" statement of the Member's and their spouse's assets, debts, and income, as well as periodic reports of financial transactions that exceed $1,000 within 30 to 45 days of the transaction.
Recent reports show Rep. Kim Schrier failed to adequately disclose Apple stock worth between $500,000 and $1 million, violating the legal requirement outlined in Federal law and House Ethics rules. Rep. Schrier purchased the stock on July 27, 2021, through her jointly held family trust. However, she failed to report the transaction within the 30 to 45 day period, and finally did so in November – months after the deadline. Notably, Rep. Schrier is a "member of the House Energy and Commerce Committee, which deals with telecommunications and tech issues," enabling her to have oversight power over Apple.
"These laws are essentially meant to provide real-time reporting and the 30 or 45 day deadline is the maximum time for disclosure, which must be met especially when the Member has oversight of the companies they are buying and selling. The disclosure laws are among the simplest rules to follow, and there is no excuse for inaccurate, incomplete, or late filings. It is essential that our lawmakers are held accountable for their actions, and I encourage the OCE to immediately investigate and apply the proper consequences for violating this law," said Kendra Arnold, Executive Director of FACT.
A full copy of the Rep. Schrier 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/
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