Democratic Rep. Ritchie Torres directed his financial adviser to dump dozens of individual stocks after the New York congressman was months late disclosing more than 70 stock purchases — in violation of a federal conflicts-of-interest and transparency law, NOTUS has learned.
Torres’ congressional office confirmed Friday that the congressman’s tardy disclosures violated the transparency provisions of the Stop Trading on Congressional Knowledge Act, or STOCK Act, which requires lawmakers to disclose any individual stock, bond or cryptocurrency trade within 45 days of making it.
The congressman’s STOCK Act violation is the latest in a series of stock disclosure blunders this year by federal lawmakers and comes at a time when a bipartisan coalition in Congress is pushing to bar every elected official in the House and Senate from buying and selling individual stocks altogether.