Watchdog says Rep. Axne violated the law with stock trades - kwwl.com
WASHINGTON, D.C. (KWWL)- A non-partisan watchdog group alleges Iowa Congresswoman Cindy Axne and six other members of Congress broke the law by not disclosing stock trades.
Axne represents Iowa's 3rd congressional district, which includes Des Moines. The Campaign Legal Center sent a letter to the Office of Congressional Ethics on Wednesday asking to investigate Axne's stock trades. The Center also filed complaints against Democratic Reps. Bobby Scott of Virginia, Thomas Suozzi of New York, and Republic Reps. Warren Davidson of Ohio, and Lance Goodson and Roger Williams of Texas.
According to the CLC, in 2019 and 2020, Axne bought and sold upwards of 40 stocks valued between $43,043 and $645,000 but did not disclose the transactions. The CLC said the assets were disclosed in the Congresswoman's financial disclosures, but Axne did not report the individual stock transactions. At the time, Axne was a member of the Financial Services Committee.
To avoid any conflicts of interest, the STOCK Act required all members of Congress to disclose all individual stock trades within 45 days.
In a statement, a spokesperson for Axne said she did publicly disclose her assets but said the congresswoman "does not personally manage or execute the stock trades" for her retirement account or ones with her husband or business.
"In accordance with her legal requirements, she has submitted disclosures of her assets through her first three years in Congress. If there are errors with those disclosures, they are unintentional, and the Congresswoman will take immediate and all necessary steps to ensure her disclosures are accurate and in accordance with the law. While Congresswoman Axne completes her own financial disclosures, she does not personally manage or execute transactions related to her retirement account or the ones she has with her husband or her small business. "
After the complaint was filed Wednesday, Iowa GOP Chairman Jeff Kaufman echoed calls for an investigation into the allegations.
"Cindy Axne's actions were deliberate and illegal, and she shouldn't be allowed to pay a petty fine and walk away," Kaufman said. "We've never had this type of criminal activity from an elected official in Iowa before and we must take this very seriously."
source: https://kwwl.com/2021/09/23/watchdog-says-rep-axne-violated-the-law-with-stock-trades/
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