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Tag Archive: personal financial disclosure

Lawmakers neglect to report ties to nonprofits

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Two members of Congress left some information in the dark when filling out their personal financial disclosure forms, which were made public last week.

According to ethics rules, if a member of Congress sits on the board of directors at a nonprofit, he or she is supposed to disclose the position. But at least two representatives—Corrine Brown, D-Fla., and Ander Crenshaw, R-Fla.—have failed to do so. The lawmakers' positions were discovered while researching lobbying reports, where lobbyists report honorary gifts to charities tied to members of Congress. There could be many more members of Congress making the same ...

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SEC and CFTC exclude derivatives from joint regulatory review

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As part of the broader push to strengthen regulation of the financial industry, two agencies with sometimes conflicting responsibilities and rules joined forces to see how harmonizing their efforts might be effective in, among other things, protecting against fraud and forcing foreign trade organizations to register with them before doing business within the United States. However, a Government Accountability Office (GAO) report, released yesterday, highlights that the two agencies, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), did not assess how they could cover gaps in the agencies’ authorities to oversee derivatives—a central part ...

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