Republican Rep. Pat Fallon failed to properly disclose more than 90 stock transactions worth as much as $17.53 million in apparent violation of federal law. — Dave Levinthal, Business Insider Deputy Washington Bureau chief
Republican Rep. Pat Fallon failed to properly disclose more than 90 stock transactions worth as much as $17.53 million in apparent violation of federal law. — Dave Levinthal, Business Insider Deputy Washington Bureau chief
Republican Rep. Pat Fallon failed to properly disclose more than 90 stock transactions worth as much as $17.53 million in apparent violation of federal law
  • Fallon disclosed some trades up to nearly four months late.
  • Tardy stock disclosures could open up members of Congress to investigations and fines.
  • A Fallon spokesman said the congressman was "unfamiliar" with congress' disclosure rules.
Freshman Rep. Pat Fallon, a Republican from Texas, failed to properly disclose dozens of stock trades together worth at least $7.8 million — and as much as $17.53 million, according to an Insider analysis of newly filed congressional records.

Fallon was tardy disclosing 93 stock trades he made between mid-January and mid-April. Some disclosures arrived about a month late. Others were up to four months late.


By federal law, members of Congress have 30 days from when they become aware of a stock trade to formally disclose it in a certified report to the clerk of the House of Representatives. His untimely reporting could prompt an ethics investigation or fine.

In a statement to Insider, Fallon spokesman Luke Ball acknowledged that the congressman didn't publicly disclose his stock trades on time.

"As a freshman member, Congressman Fallon was unfamiliar with how frequently members of Congress are required to file financial disclosures, having served in other public offices where the requirements are different," Ball wrote. "Upon learning of the requirement, he immediately filed a disclosure with the appropriate entities. That disclosure is available for the public to review. Congressman Fallon looks forward to remaining in compliance with future filings."

Ball confirmed that Fallon and his staff have taken required congressional ethics trainings, during which congressional financial disclosure rules are routinely covered.
Read the full article: https://www.businessinsider.com/pat-fallon-congress-texas-stock-trades-boeing-2021-6