Kansas Sen. Roger Marshall more than a year late reporting stock trades by his children
WASHINGTON -- Kansas U.S. Senator Roger Marshall disclosed several stock trades by one of his children more than a year after they were due, violating a law designed to prevent insider trading in Congress.
Under the STOCK Act, passed in 2012, members of Congress have 45 days to report transactions by themselves, their spouses or dependents that exceed $1,000. Marshall was more than a year late in disclosing several trades made by his children that were worth anywhere between a total of $8,000 and $120,000.
“These trades were made unbeknownst to Senator Marshall,” said Michawn Rich, a spokeswoman for Marshall. “The moment Senator Marshall was made aware, the proper reporting was handled.”
The penalty for violating the STOCK Act for the first time can be $200. But any fines are subject to the discretion of the Senate Ethics Committee and they usually don’t levy penalties, according to Dylan Hedtler-Gaudette, a government affairs manager for the Project on Government Oversight.
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Or did daddy just use their names? 