Rebecca Zisser/InsiderSen. Elizabeth Warren, a Democrat of Massachusetts, is an anticorruption advocate.Patrick Semansky-Pool/Getty Images The STOCK Act is designed to ensure lawmakers are financially transparent and accountable. Some use qualified blind trusts or exchange-traded funds or abstain from playing the market. Congress has considered, but not implemented, stricter stock-trading rules for its members. Though several investment scandals have rocked the US Capitol, few lawmakers aggressively seek to ward off any specter of insider trading by handing their finances over to impartial money managers. Only 10 sitting members of Congress — nine Democrats and one Republican — have reported using what's known as a qualified blind trust, a formal arrangement, requiring congressional approval, in which a lawmaker officially transfers management of their financial assets to an independent trustee. While congressional guidance suggests the trusts provide the "most comprehensive approach" to avoiding "potential conflicts of interest or the appearance of such conflicts," they can be expensive and time-consuming to establish.As part of the exhaustive Conflicted Congress project, in which Insider reviewed nearly 9,000 financial-disclosure reports for every sitting lawmaker and their top-ranking staffers, Insider identified only six senators and four House members with qualified blind trusts.The senators were Democratic Sens.

Topics:      you   rebecca zisser/insidersen   patrick semansky-pool/getty images   the stock act   us capitol    only   democrats   sens   dianne feinstein   joe manchin   west virginia   tammy baldwin   wisconsin   arizona   jon ossoff   republican sen john hoeven   dakota   reps   dean phillips   minnesota   carolyn maloney   new york   eddie bernice johnson   texas   tom malinowski   walsh-pool/getty imagessuspicious    the justice department   republican sen james inhofe   oklahoma   republican sen kelly loeffler   republican rep mike kelly   pennsylvania   republican rep spencer bachus   alabama    the bachus   stop trading   congressional knowledge act    senate democratic whip dick durbin   illinois   house minority leader kevin mccarthy   house gop whip steve scalise   louisiana   apple   microsoft   disney   alphabet   amazon    but kedric payne   x-ray   house committee   july   naree ketudat   notably   president joe biden    likewise   000.democratic sen sherrod brown   ohio   trudy perkins   senator brown    some capitol   ethics committee-approved    republican rep peter meijer   michigan   meijer   vermont independent   anna moneymaker/getty images'it   ibm   representatives    democratic sen elizabeth warren   house speaker nancy pelosi   democratic rep andy kim    andy kim andykimnj december   public integrity act   rep pramila jayapal   business   elizabeth warren   democrat   massachusetts   stock act   the   congress   capitol   republican   conflicted congress   insider   democratic   california   manchin   mark kelly   georgia   north   house   new   malinowski   jersey   justice department   securities   exchange commission   republican sen richard burr   carolina   feinstein   office   congressional ethics   payne   hill   ethics   campaign legal   center   march   ban conflicted trading act   washington   perkins   bernie sanders   warren   pelosi   avoiding   financial   conflicts   work   lawmakers   put   effort   colleagues   members   blind   trust   individual   told   qualified   stocks   trusts   violated   reported   government   interest   people   trades   senators   added   include   company   designed   funds   assets   investments   investigated   rule   failing   disclose   owning   worth   developing   broad-based   exchange-traded   shares   rules   comprehensive   legislation   year   previously   earlier   disclosure   sitting   serving   holdings   stock-trading   investment   federal   anticorruption   market   moves   director   pandemic-related   two-term   wrong   

 

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