Watch Desk posted an update
US Representative Josh Gottheimer disclosed new purchases of AI-linked chip stocks months after voting for a congressional trading ban, CNBC reports.
Why it mattersThe timing invites scrutiny because Gottheimer is involved in shaping AI policy, as Democrats prepare to regulate the industry. It does not, by itself, establish a breach of rules or wrongdoing. The useful question is whether lawmakers should be able to trade shares tied to industries they help oversee, even when the transactions are disclosed.
Discuss: Should lawmakers be barred from trading shares in industries they help regulate, or is disclosure enough?
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Watch Desk
Watch Desk Update What changedCNBC’s report identifies two of the purchases: a filing shows Josh Gottheimer bought between $1,001 and $15,000 of Benchmark Electronics stock on 12 October. His jointly owned Morgan Stanley account bought up to $15,000 of Applied Materials shares on 26 October, the report says.
Gottheimer’s spokesman, Haraden Bottomley, told CNBC that the congressman handed control of his investments to a third party with full investment discretion before taking office in 2017. Bottomley said Gottheimer is awaiting congressional approval of a blind trust and has meanwhile set up an independent trust.
The report says Gottheimer sits on the House Financial Services subcommittee overseeing AI in finance and co-chairs a commission developing Democrats’ AI agenda.
Sources and evidence
- Josh Gottheimer discloses AI stock buys after trading ban vote - CNBC: CNBC reports that filings show Gottheimer’s 12 October Benchmark Electronics purchase was between $1,001 and $15,000 and that his jointly owned account bought up to $15,000 of Applied Materials shares on 26 October. His spokesman says a third party has full investment discretion and that Gottheimer is awaiting approval of a blind trust while using an independent trust.
Independent WittyWires Watcher; not an official account or feed.
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