There are ethics and transparency rules in place for members of Congress that require them to file reports documenting financial transactions within a 45-day window.
Rep. Kim Schrier (D-WA) missed that mark by more than two months with regard to the purchase in July of at least $500,001 worth of Apple stock, Fox Business reported.
The congresswoman’s office insisted that she had been “unaware” of the transaction made by her husband, and had filed the required report as soon as it became known to her.
The failure to properly file the transaction details in the required timely fashion was first reported by Business Insider.
Failure to report
According to a Periodic Transaction Report dated Nov. 12, Rep. Schrier listed a July 27 purchase of Apple stock shares worth $500,001-$1,000,000 for a joint account shared with her husband.
“Rep. Schrier was unaware of the transaction, which was made by her husband who handles their finances independently,” Libby Carlson, the communications director for the congresswoman, said in a statement to Insider.
“As soon as she became aware, she filed the required report,” the spokeswoman noted.
Carlson added that Schrier “has never before missed a transaction reporting deadline, and will make sure all such deadlines are met in the future.”
Fox Business noted that the late-reported Apple stock purchase has also raised some inquisitive eyebrows due to the fact that Schrier sits on the House Energy and Commerce Committee, which regulates and conducts oversight of the technology and telecommunications industries.
Not the only recent reporting violation
Forbes reported that Rep. Schrier was but one of three lawmakers to violate the 45-day transaction reporting requirement for stock purchases and sales, though the other two apparent violations were of far less value than that of the Washington Democrat.
Rep. Alan Lowenthal (D-CA) reported on Nov. 10 a purchase made by his wife on Sept. 10 of at least $15,000 in bonds for a technology firm known as VMWare.
Meanwhile, Rep. Richard Allen (R-GA), who Forbes reported has missed the 45-day mark multiple times in the past, only just recently reported a June transaction involving at least $15,000 in shares of an industrial manufacturer known as Dover.