Three members of Congress have reportedly violated the STOCK Act, which requires federal lawmakers to disclose personal financial investments within 45 days. Rep. Shri Thanedar (D-Michigan) failed to disclose a January sale of Apple stock valued between $100,001 and $250,000 and an October sale of MicroStrategy stock until recently. Thanedar stated that his wife sold her MicroStrategy shares at a loss and acknowledged the violation, indicating he would accept penalties. This marks Thanedar's third violation of the STOCK Act.
Rep. Tracey Mann (R-Kansas) was nearly two years late in disclosing 10 stock trades made by his wife involving companies such as Apple and Microsoft, with a total value between $10,010 and $150,000. Mann's office acknowledged a request for comment but did not provide further details.
Rep. Derek Tran (D-California) was about a year late in disclosing a sale of Litecoin, believing it did not meet the $1,000 threshold for reporting. His spokesperson stated that the sale crossed the threshold due to cryptocurrency volatility, and once aware, Tran disclosed it.
The House recently passed the Stop Insider Trading Act, which aims to ban federal lawmakers from purchasing individual stocks while in office. The bill awaits Senate consideration. Other senators and representatives have also been cited for STOCK Act violations in the past year.