House Ethics Chair Michael Guest violates STOCK Act with late stock disclosures

House Ethics Committee Chairman Michael Guest, a Republican from Mississippi, violated the STOCK Act by failing to disclose three stock sales made by a family trust owned by his wife, Haley, more than six months after the transactions occurred, a NOTUS review found.

Under law, members of Congress must publicly report individual stock trades within 45 days. The trades involved shares of Chevron, Airbnb, and e.l.f. Beauty. Guest wrote in a message Friday to the House clerk that he learned of the transactions only Thursday and has initiated an internal review.

Guest’s late disclosures include sales valued between $1,001 and $15,000, with all trades reportedly made at a loss. His chief of staff, Jordan Downs, said Guest has no decision-making role in the trust and was not involved in those transactions.

This is the second time Guest has violated STOCK Act disclosure rules. In 2021, he was more than eight months late in reporting stock sales by a trust benefiting his wife, according to Business Insider.

The House Ethics Committee has the authority to fine members for STOCK Act violations. The standard penalty for first-time offenders is a $200 fine, which Guest plans to pay. He does not anticipate recusing himself from committee considerations related to the matter.

Other lawmakers have also been cited for STOCK Act violations in recent months, including several members of Congress and senators, according to records reviewed by NOTUS. The issue remains a focus amid ongoing discussions about potential bans on individual stock trading by federal lawmakers.

Source: Original Article