“Freshman Rep. Pat Fallon, a Republican from Texas, failed to properly disclose dozens of stock trades together worth at least $7.8 million – and as much as $17.53 million, according to an Insider analysis of newly filed congressional records. Fallon was tardy disclosing 93 stock trades he made between mid-January and mid-April. Some disclosures arrived about a month late. Others were up to four months late. By federal law, members of Congress have 30 days from when they become aware of a stock trade to formally disclose it in a certified report to the clerk of the House of Representatives. His untimely reporting could prompt an ethics investigation or fine.”

“In a statement to Insider, a Fallon spokesman, Luke Ball, acknowledged that the congressman didn’t publicly disclose his stock trades on time. ‘As a freshman member, Congressman Fallon was unfamiliar with how frequently members of Congress are required to file financial disclosures, having served in other public offices where the requirements are different,’ Ball wrote. ‘Upon learning of the requirement, he immediately filed a disclosure with the appropriate entities. That disclosure is available for the public to review. Congressman Fallon looks forward to remaining in compliance with future filings.’ Ball confirmed that Fallon and his staff had taken required congressional ethics trainings, during which congressional financial-disclosure rules are routinely covered. Fallon bought and sold the shares of 14 companies in the first four months of 2021, according to a disclosure he filed with the clerk of the House of Representatives on June 17. Of particular note is Boeing, the aviation and defense contracting giant. Fallon is a member of the House Armed Services Committee, which conducts oversight of the government’s relationship with defense contractors” – Business Insider.