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U.S. House Speaker Pelosi says banning member stock trades possible -Breaking

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© Reuters. Nancy Pelosi, US House Speaker (D.CA), addresses the media during her weekly news conference at Capitol Hill in Washington on January 20, 2022. Eric Lee/Pool via REUTERS

WASHINGTON (Reuters] – U.S. House of Representatives Speaker Nancy Pelosi signaled Thursday her willingness to support legislation that could ban lawmaker stocktrades, if her rank and file Democrats are supportive.

Pelosi was asked by reporters about tightening stock transaction controls at her weekly news conference. Pelosi replied, “If members of the House want to do this, then I’m okay with it.”

Representatives must disclose stock sale transactions within the prescribed time limit or they will face sanctions. It is intended to reduce any conflicts of interest that may be created by House members while they are working on legislation impacting companies and investors.

Pelosi said that suspicions of insider dealing by Congressmen would be brought to the attention of the U.S. Department of Justice.

These remarks are a marked departure from her comments a month earlier, when she supported stock market traders and lawmakers.

Pelosi began her Thursday remarks on Thursday by stating that she has “great confidence” in the integrity and character of her members.

“To make a blanket statement that we don’t have the ability to do this or that, because we aren’t trusted,” said the House Democrat.

Pelosi indicated that bills are currently being reviewed by the House Administration Committee. This committee would be in primary control of such legislation.

Pelosi also criticized the U.S. Supreme Court’s lax rules. She said, “When we move forward with any thing let’s take with us the Supreme Court to have disclosure.”

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