Democrat Rep. Kim Schrier Allegedly Violates STOCK Act, Fails to Properly Report $500,000+ Apple Investment

Democrat Rep. Kim Schrier (WA) allegedly violated the Stop Trading on Congressional Knowledge (STOCK) Act of 2012 by failing to report a more than $500,000 investment in Apple in July.

The STOCK Act was signed into law in 2012 following the publication of Breitbart News senior contributor Peter Schweizer’s book Throw Them All Out in 2011. The book exposed corruption at the uppermost levels of elected office in the United States by revealing how the elite political class profits from insider knowledge. The book exposed elected Democrats, such as Speaker of the House Nancy Pelosi (CA), as well as Republican members of Congress.

Throw Them All Out was a catalyst for the STOCK Act, which passed with overwhelming bipartisan support, and was signed into law by former President Barack Obama in March of 2012. The law implements stricter reporting and ethical requirements on investments by Congressional members by requiring them to disclose investments within 30-45 days, in efforts to prohibit them from cashing in on insider knowledge.

Schrier allegedly failed to disclose her and her husband’s investment in Apple from their joint bank account in July, according to Business Insider. Schrier was reportedly upwards of two months late disclosing the investment, the outlet reports.

The investment was somewhere between $500,001 – $1,000,000, according to a periodic transaction report from the Clerk of the House of Representatives.

Libby Carlson, who serves as Schrier’s communications director, told Business Insider that the representative was “unaware of the transaction.”

“Rep. Schrier was unaware of the transaction, which was made by her husband who handles their finances independently. As soon as she became aware, she filed the required report,” Carlson said. She added that Schrier “has never before missed a transaction reporting deadline, and will make sure all such deadlines are met in the future.”

The law allows Congressional members 30 days to report from when they are made aware of the trade or 45 days overall from the date of the transaction.

Schrier deals directly with both tech issues and telecommunications as she serves on the House Energy and Commerce Legislative Panel, Business Insider notes.

In September, Breitbart News published a list of 11 Democrats serving in the House of Representatives and the Senate who have allegedly violated the STOCK Act, including Sen. Mark Kelly (D-AZ), Rep. Debbie Wasserman Schultz (D-FL), and Senator Dianne Feinstein (D-CA).