Politico: Burr moves to quell fallout from stock sales with request for Ethics probe

Politico: Burr moves to quell fallout from stock sales with request for Ethics probe

Common Cause, a Washington-based watchdog group, filed complaints against all four lawmakers — Burr, Loeffler, Inhofe and Feinstein — with the Department of Justice, the Securities and Exchange Commission and the Senate Ethics Committee, citing the STOCK Act. “These potential violations of insider trading laws and the STOCK Act by these Senators ... show what appears to be contempt for the law and further a contempt for the American people these Senators have sworn to serve," Karen Hobert Flynn, president of Common Cause, said in a statement.

Sen. Richard Burr (R-N.C.) on Friday asked the Senate Ethics Committee to review stock sales he made weeks before the markets began to tank in response to the coronavirus pandemic — a move designed to limit the fallout from an intensifying political crisis.

Burr, who chairs the powerful Senate Intelligence Committee, defended the sales, saying he “relied solely on public news reports to guide my decision regarding the sale of stocks” and disputed the notion he used information that he was privy to during classified briefings on the novel coronavirus. Burr specifically name-checked CNBC’s daily health and science reporting from its Asia bureau. …

Common Cause, a Washington-based watchdog group, filed complaints against all four lawmakers — Burr, Loeffler, Inhofe and Feinstein — with the Department of Justice, the Securities and Exchange Commission and the Senate Ethics Committee, citing the STOCK Act.

“These potential violations of insider trading laws and the STOCK Act by these Senators … show what appears to be contempt for the law and further a contempt for the American people these Senators have sworn to serve,” Karen Hobert Flynn, president of Common Cause, said in a statement.