Senate GOP campaign arm criticizes Sen. Jacky Rosen over stock controversy.
The National Republican Senatorial Committee Accuses Sen. Jacky Rosen of Violating Federal Law
The National Republican Senatorial Committee (NRSC) has accused Sen. Jacky Rosen (D-NV) of violating federal law that requires members of Congress to report stock transactions. This accusation comes as Republicans aim to retake the Senate and Rosen seeks a second term next year. The NRSC’s claim is based on two of Rosen’s Periodic Transaction Reports filed on April 19, 2017, during her time in the House.
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The disclosed reports reveal that Rosen engaged in stock trading, amounting to $15,000, in two companies: LogMeIn on Feb. 1 and Spectra Energy on Feb. 28 of that year. The LogMeIn trades were executed by her husband and were notified on Feb. 10, as indicated in the PTR. On the other hand, the Spectra Energy transactions were conducted through a family trust owned by her parents and were notified on March 6, as stated in the second filing.
The STOCK Act, enacted in 2012, mandates members of Congress to report transactions exceeding $1,000 in stocks, bonds, commodities futures, and other securities within 30 days of trade notification and 45 days of the exchange.
“Jacky Rosen broke federal law when she violated the STOCK Act, which is meant to stop Congress from insider trading,” said NRSC spokeswoman Maggie Abboud in a statement on Friday. “Rosen is just another Washington insider who thinks the rules don’t apply to her.”
A spokesperson for Rosen refuted any claim that the trades were not promptly filed, stating in a statement to the Washington Examiner, “These were legal, automatic exchanges that the Rosens had no control over. They took place and were publicly reported more than six years ago.”
Rosen’s disclosures also reveal that her family trust is established as a limited partnership in Nevada. However, the state revoked the partnership’s business rights in September 2019 due to its failure to file the annual report. Despite this issue, Rosen reported thousands in trades over the two-year period it took to resolve the trust matter. However, filings indicate that these transactions appear to be separate from the trust.
The Nevada lawmaker was initially elected to the Senate in 2018 after serving a single term in the House. According to her Federal Election Commission filing, she raised $2.7 million during the second quarter of this year for her reelection campaign. In the upcoming general election next year, she is expected to face Sam Brown, an Afghanistan war veteran and the favored candidate in the state’s Senate GOP primary.
Click here to read more from the Washington Examiner.
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