While Richard Burr sat on committees focused on health care, taxes and trade, he and his wife bought and sold hundreds of thousands of dollars of stock in an array of health care companies, banks and corporations with business overseas
“I relied solely on public news reports to guide my decision regarding the sale of stocks on February 13. Specifically, I closely followed CNBC’s daily health and science reporting out of its Asia bureaus at the time,” Burr said in aBut Burr has long held stocks in companies that have business before his committees, creating the possibility that he could learn nonpublic information that has to do with his stock portfolio.
The practice is not uncommon in the House and Senate. While some lawmakers chose to hold only mutual funds or put their stocks into a blind trust in order to avoid potential conflicts of interest, others buy and trade stocks despite past public outcry about them doing so. More recently, Burr has acquired stock in financial institutions such as U.S. Bank, and in insurance companies including MetLife and John Hancock, which are also regulated by the Senate Finance Committee.
As he sits on the Senate health committee, Burr has repeatedly pushed to repeal the medical device tax while buying and selling stock in medical device companies. The issue is of importance to Burr’s home state of North Carolina, where there is a medical device industry.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Study: Income key factor in coronavirus cases – latest updatesLower income appears to be a significant Covid-19 risk factor, new research shows. Here’re updates: 🇧🇷Brazil confirms 15,305 new cases 🇵🇦Panama extends suspension of international flights to June 🇹🇷Turkey imposes 4-day curfew in 15 provinces For more:
Read more »
FBI seizes Sen. Richard Burr's cellphone in probe over stock salesThe North Carolina Republican faced calls to resign after reports he privately warned donors of the dire impact of the coronavirus pandemic in February while selling off up to $1.6 million of his stocks.
Read more »
FBI seizes Sen. Richard Burr's cellphone in probe over stock salesThe FBI has seized the cellphone of Sen. Richard Burr, R-N.C., pursuant to a search warrant as part of an investigation of possible insider trading, a senior law enforcement official confirmed to NBC News.
Read more »
Insider Trading Explained: Why Senator Burr Is Being Investigated And How Certain Stock Trades Are IllegalSenator Richard Burr is in hot water after allegations emerged that he may have used inside information to avoid market losses related to coronavirus.
Read more »
Sen. Richard Burr steps down as chairman of Intelligence Committee as FBI seizes phone in investigationSen. Richard Burr is stepping down as chairman of the Intelligence Committee amid an FBI probe into stock sales ahead of the coronavirus market crash.
Read more »
FBI serves warrant, seizes phone of Sen. Richard Burr in stock sales investigation: reportsThe FBI served a warrant to GOP Sen. Richard Burr as part of its investigation into his sale of stocks ahead of the market crash due to the coronavirus, according to reports.
Read more »