Tags: Coronavirus | Financial Markets | Money | kelly loeffler | stock sales | senate | ethics

Sen. Loeffler Gives Docs on Stock Sales to DOJ, SEC, Ethics

kelly loeffler wears a mask and carries documents as she leaves a senate hearing
Sen. Kelly Loeffler, R-Ga. (Win McNamee/Getty Images)

By    |   Thursday, 14 May 2020 10:44 PM

Sen. Kelly Loeffler, R-Ga., under fire for stock trades ahead of the coronavirus outbreak, has reportedly handed over records about stock trading on her behalf to the Department of Justice, the Securities and Exchange Commission and the Senate Ethics Committee.

The documents and information are centered on "establishing that she and her husband acted entirely appropriately and observed both the letter and the spirit of the law," a spokesman for Loeffler told the Atlanta Journal-Constitution late Thursday.

"The documents and information demonstrated her and her husband's lack of involvement in their managed accounts, as well the details of those accounts," the spokeswoman said. "Sen. Loeffler has welcomed and responded to any questions from day one."

The news outlet reported the statement did not say, however, if Loeffler volunteered the information or had been asked to provide it by federal investigators, who have also combed over stock selloffs before the coronavirus outbreak by at least two other senators.

Documents filed with the Senate show Loeffler sold off large quantities of stocks in individual companies in the days and weeks immediately after she attended a Jan. 24 senators-only briefing on COVID-19. She said later no secret information was shared at that meeting.

Sen. Richard Burr, R-N.C., announced Thursday he was stepping down as chairman of the Senate Intelligence Committee — a day after the FBI seized his cellphone.

The news outlet reported a spokesman for Sen. Dianne Feinstein, D-Calif., told reporters Thursday she had been questioned by the FBI. She has said trades that were criticized were made on her husband's behalf and all of her assets are in a blind trust.

Both Loeffler and fellow Sen. David Perdue, R-Ga. — who has faced a lesser degree of scrutiny about his stock transactions — have since announced they will stop buying and selling stocks in individual companies. They each sold off nearly all of the stocks they owned.

Loeffler is married to Jeff Sprecher, the founder of the company that owns the New York Stock Exchange. She said advisers acting independently handle stock trading on the couple's behalf, and they are not informed until after the fact, the news outlet reported.

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Sen. Kelly Loeffler, R-Ga., under fire for stock trades ahead of the coronavirus outbreak, has reportedly handed over records about stock trading on her behalf to the Department of Justice, the Securities and Exchange Commission and the Senate Ethics Committee.
kelly loeffler, stock sales, senate, ethics, georgia, justice department, sec
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2020-44-14
Thursday, 14 May 2020 10:44 PM
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