Donna Shalala, on coronavirus oversight board, pays fine for not revealing stock sales
WASHINGTON -- Miami Rep. Donna Shalala, who admitted last week that she broke federal law requiring the disclosure of stock sales, will pay a $1,200 fine for six violations because she failed to report hundreds of transactions made last year by a broker setting up a blind trust, according to the Democratic congresswoman’s office and a newly filed disclosure published Tuesday.
A 62-page report from Shalala made public Tuesday by the House Clerk details 556 stock transactions made by the congresswoman in 2019. She did not make any stock transactions in 2020.
There is no indication that Shalala engaged in insider trading, though her stock holdings on her previous financial disclosure, from 2018, led to criticism from left-leaning outlets that her portfolio conflicted with her work on an oversight committee set up oversee $500 billion in taxpayer money being used for coronavirus-related payouts to large businesses.
House Speaker Nancy Pelosi named Shalala to the committee as the lone representative for House Democrats on April 17. Pelosi said on April 24 that Shalala’s position on the committee is secure despite her failure to disclose the stock trades.
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