Tags: Coronavirus | loeffler | stock | sales | market

Sen. Loeffler: Reports of Knowingly Selling Stock 'Absolutely False'

sen. kelly loeffler is shown walking on capitol hill
Sen. Kelly Loeffler (Samuel Corum/Getty Images)

By    |   Friday, 20 March 2020 11:43 AM

Sen. Kelly Loeffler Friday flatly denied reports that she and her husband, New York Stock Exchange Chairman Jeffrey Sprecher, knowingly sold off at least $1.2 million in stocks after a private all-senators meeting on the dangers of the oncoming coronavirus epidemic, saying that she was informed about the transactions "after they occurred."

"I want to set the record straight," the Georgia Republican, said on Fox News' "America's Newsroom." "I have seen some of the stories. That's absolutely false. It could not be true. If you look at the personal transaction reports, I was only informed after by transactions after they occurred. They were a mix of buys and sells. Very routine."

The Daily Beast reported Thursday that Loeffler, who took office on Jan. 6 after she was appointed to fill the seat of retiring Sen. Johnny Isakson's seat, reported the first stock sale by her and her husband was on Jan. 24, the day the Senate Health panel held the private briefing for all senators. In all, 29 stock transactions were made in their names through mid-February, with all but two as sales, for a total of between $1.25 million and $3.1 million, according to her disclosure records. 

Loeffler said Friday that she and her husband are not involved in decisions concerning buying and selling, as that is handled by "third-party" advisers, who make "decisions every day that I am not involved in."

"I come out of the financial services industry," she said. "I have 20 years of complying with strict standards. I am the only chartered financial analyst in the Senate and I understand these rules and I have adhered to the letter and the spirit of these rules."

Loeffler's husband is NYSE chairman and CEO of its holding company, Intercontinental Exchange. She said Friday that is why their transactions are "outsourced to third parties."

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Sen. Kelly Loeffler Friday flatly denied reports that she and her husband, New York Stock Exchange Chairman Jeffrey Sprecher, knowingly sold off at least $1.2 million in stocks after a private all-senators meeting on the dangers of the oncoming coronavirus epidemic.
loeffler, stock, sales, market
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2020-43-20
Friday, 20 March 2020 11:43 AM
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