Fourth-Ranking House Democrat Apparently Violated Stock-Trade Rules

The No. 4 Democrat in the House of Representatives has joined the growing ranks of lawmakers who’ve recently failed to report their securities trades within 45 days, as federal law requires.

On Wednesday, Rep. Katherine Clark (D-Mass.) disclosed that she’d sold more than $100,000 of shares in private investment adviser Ruane, Cunniff & Goldfarb back to the company in January.

“Assistant Speaker Clark notified the Ethics Committee immediately upon learning of this transaction,” a spokesperson said, providing a rationale similar to almost every other lawmaker whose office has responded to Forbes’ inquiries. She did not explain why it took her so long to learn about the trade.

On Friday, Rep. Dan Newhouse (R-Wash.) reported he’d sold more than $1,000 in the Craft Brew Alliance back in October 2020. A spokesperson for Newhouse has not responded to an inquiry. UPDATE Aug. 10, 2:20 p.m.: “The Craft Brew Alliance stock was liquidated through a merger with Anheuser-Busch,” a spokesperson said. “The transaction was a company to company action that only came to Congressman Newhouse’s attention when he was preparing to file this year’s financial disclosure report. As soon as the transaction was noticed, Mr. Newhouse reported it. “

At least 10 other lawmakers have reported late trades this summer.