Robert Walker Weighs in on Congressman Who Participated in IPO
Robert L. Walker, of counsel in Wiley Rein’s Election Law & Government Ethics Practice, was quoted in an article published yesterday by the Associated Pressabout Rep. Curt Clawson (R-FL), who participated in the initial public offering (IPO) of a solar company. Members of Congress are generally prohibited from participating in IPOs under the 2012 Stock Act, according to the article.
Mr. Walker told theAssociated Press that the Stock Act gives the House Ethics Committee and the U.S. Securities and Exchange Commission power to investigate Rep. Clawson for any alleged wrongdoing.
“If you weigh the potential return of the investment versus the hassle of the disclosure and review process, the Stock Act has put some strict limits on what's practical,” Mr. Walker said.
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