Infotech

In the United States, the debate is mounting on financial conflicts of interest



Posted Jan 17, 2022, 4:01 PMUpdated on Jan 17, 2022 at 4:07 PM

The footage made the rounds on social media. When asked by a reporter whether parliamentarians and their spouses should be banned from buying and selling shares in the future, House Speaker Nancy Pelosi said a firm and almost outraged: “We are in a market economy! They must be free to participate in this, ”exclaimed the leader of the Democratic majority in the House of Representatives.

The question was asked after the discovery, by American media, that more than fifty elected members of Congress had failed in their reporting obligations imposed by a 2012 law, the Stock Act. Most claimed negligence, but the episode brought to light the recurring conflicts of interest created by elected officials’ access to sensitive information. In 2020, the justice system had suspected insider trading in four elected members of Congress, who had been active on the stock market after confidential meetings on the Covid (the SEC is continuing its investigation for one case).

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