Statement on Reporting of Financial Transactions by Congresswoman Scanlon
Washington,
August 26, 2022
Chester, PA — The following statement was issued on Friday, August 26, 2022, by Congresswoman Mary Gay Scanlon’s spokesperson, Carina Figliuzzi: “In preparing her annual Financial Disclosure Report, Rep. Scanlon discovered that certain transactions in her husband's retirement account, which is managed by a financial advisor who has discretion over the account, had not been reported within the 45-day reporting window. Rep Scanlon had been unaware of the routine transactions and, once informed, took immediate action to file a transaction report, pay the $200 late filing fee, and implement additional procedures, including monthly reviews of the couple’s retirement accounts, to ensure that such transactions are not overlooked in the future. “Rep. Scanlon also requested a thorough review of her and her husband’s prior financial reporting to ensure that all transactions with reporting deadlines are identified. In that process, one reportable transaction in her husband’s account was identified, a stock transaction triggered by corporate restructuring and not initiated by the Representative, her husband, or their financial advisor. When advised that this was a reportable transaction, Rep. Scanlon took immediate action to file a transaction report and pay the $200 late filing fee. “Rep. Scanlon has never traded individual stocks and remains firm in her long-held belief that members of Congress should not be allowed to trade individual stocks while in office. She is a proud cosponsor of the Ban Conflicted Trading Act and the TRUST in Congress Act to ban congressional stock trading and ensure accountability, and looks forward to supporting legislation to end the potential for conflicts of interest that such trading presents.” ### |
