The Trump administration is urging closer scrutiny of Nancy Pelosi's (D-Ca.) stock portfolio after one of her closest allies, Senator Adam Schiff (D-Ca.), accused White House officials of insider trading.

"The American people remain highly concerned about Nancy Pelosi’s long, documented history of insider trading and eagerly await Adam Schiff refocusing his political stunt on serious issues, like Pelosi’s portfolio," White House spokesman Kush Desai told ABC News.

While Pelosi has long been at the center of the discourse on insider trading in Washington D.C., Democrats have attempted to reframe the issue, claiming people around Trump may have benefited from the market volatility caused by his "Liberation Day" tariffs.

Schiff on insider trading

In a letter to the White House dated June 2, Schiff said the Trump administration is not meeting its obligations to disclose senior officials' transactions to the Office of Government Ethics (OGE) in a timely manner.

“The White House has yet to disclose any financial disclosure or transaction reports, even after widespread concern of potential insider trading following President Trump's sudden pause of sweeping tariffs in early April,” Schiff wrote.

Within a day of Schiff sending the letter, some White House officials filed "new entrant" disclosures, including National Economic Council director Kevin Hassett and the chief of staff to Melania Trump, Harrison Hayley.

Schiff, a Pelosi ally and longtime Trump critic, initially raised accusations of insider trading in April after Trump paused tariffs, causing the stock market to rebound. Some of Trump's critics suggested that people inside the administration benefited from a stock tip, although Trump had publicly advised that it was a "great time to buy" shortly before markets surged.

White House dismisses criticism

In his April letter, Schiff expressed skepticism that no senior White House officials had made transactions since January that would trigger a periodic transaction report, which must be filed not later than 45 days after certain transactions exceeding $1,000.

A White House spokesman told Fox News Digital Thursday that White House officials who are obligated to do so have submitted all necessary reports, "including the obligation to file periodic transaction reports disclosing the purchase or sale of certain securities."

Pelosi's most recent periodic transaction report was in January, when her last known stock trades were made.

Pelosi responds

In response to the White House's latest accusations, Pelosi denied she owns any stock. The former House Speaker has long said her husband controls all her investments, although that has not allayed suspicions that the couple benefits from non-public information.

"Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions," her spokesperson said.

While banning Congress from trading stock is popular with the public, lawmakers have shown only fleeting interest in tackling the issue. The 2012 STOCK Act, while designed to combat insider trading, is seldom enforced.

In a recent interview with TIME magazine, Trump said he would sign a stock trading ban and singled out Pelosi, saying he "watched Nancy Pelosi get rich through insider information."