London Daily

Focus on the big picture.
Friday, Nov 28, 2025

Pelosi makes about-face on insider trading in Congress

Pelosi makes about-face on insider trading in Congress

House Speaker Nancy Pelosi says she ‘trust her members’ to do the right thing, on one condition
Previously openly opposed to banning stock trading by members of Congress, Speaker of the House Nancy Pelosi (D-California) appeared on Thursday to change her mind. Her apparent openness to a proposal floated by two Senate Democrats, however, was conditioned on demanding the same of US Supreme Court justices.

“I have great confidence in the integrity of my members. They are remarkable. So when people talk about well, somebody might do this and somebody, I trust our members,” Pelosi, 81, told reporters on Capitol Hill.

“To give a blanket attitude of we can't do this and we can't do that because we can't be trusted, I just don't buy into that. But if members want to do that, I'm OK with that,” she added.

Her words were widely reported as an about-face on the contentious issue of stock trading by members of Congress, which has recently come under intense scrutiny in no small part due to Pelosi’s own financial success.

Financial disclosures show Pelosi does not own or trade stocks herself, but her husband Paul does. She is the top Democrat on the list presented last week by the watchdog Unusual Whales, showing that the stock portfolios of many US lawmakers enjoy returns on investment well above those of the Standard & Poor’s exchange-traded fund.

A Twitter account named “Nancy Pelosi’s Portfolio Tracker” put a spotlight on the speaker’s investments last fall and attracted over 200,000 followers before it was banned without explanation in early December. A week later, asked about the ethics of lawmakers trading stocks their laws could affect, Pelosi argued the US is a “free-market economy” and members of Congress “should be able to participate” in it.

Pelosi’s portfolio would be affected by the bill proposed by two Senate Democrats last week. Jon Osoff of Georgia and Mark Kelly of Arizona want to ban sitting members of Congress and their family members from stock trading, and would require them to either divest from the stock assets or put them in a blind trust while in office.

Two recent polls show anywhere between 67% and 76% of Americans would support such a ban. However, House Majority Leader Steny Hoyer (D-Maryland) said on Wednesday that lawmakers should have the same financial privileges as everyone else.

Pelosi’s apparent change of heart on the subject came with a caveat, as she told reporters the Supreme Court should be included in any new restrictions.

“If we're saying everybody should be living by the same standard then let – so be it. That's OK with me. But I don't think that the court should be let off the hook,” she said. “So, I say when we go forward with anything, let's take the Supreme Court with us to have disclosure.”

Members of Congress are already required to disclose any financial transactions within 45 days by the 2012 Stop Trading on Congressional Knowledge (STOCK) Act. It also bans them from using information they have as part of their job that is not available to the general public to turn a personal profit. A recent Business Insider report alleged that 54 lawmakers failed to comply with the disclosure rules.
Newsletter

Related Articles

0:00
0:00
Close
250 Still Missing in the Massive Fire, 94 Killed. One Day After the Disaster: Survivor Rescued on the 16th Floor
Trump: National Guard Soldier Who Was Shot in Washington Has Died; Second Soldier Fighting for His Life
UK Chancellor Reeves Defends Tax Rises as Essential to Reduce Child Poverty and Stabilise Public Finances
No Evidence Found for Claim That UK Schools Are Shifting to Teaching American English
European Powers Urge Israel to Halt West Bank Settler Violence Amid Surge in Attacks
"I Would Have Given Her a Kidney": She Lent Bezos’s Ex-Wife $1,000 — and Received Millions in Return
European States Approve First-ever Military-Grade Surveillance Network via ESA
UK to Slash Key Pension Tax Perk, Targeting High Earners Under New Budget
UK Government Announces £150 Annual Cut to Household Energy Bills Through Levy Reforms
UK Court Hears Challenge to Ban on Palestine Action as Critics Decry Heavy-Handed Measures
Investors Rush Into UK Gilts and Sterling After Budget Eases Fiscal Concerns
UK to Raise Online Betting Taxes by £1.1 Billion Under New Budget — Firms Warn of Fallout
Lamine Yamal? The ‘Heir to Messi’ Lost to Barcelona — and the Kingdom Is in a Frenzy
Warner Music Group Drops Suit Against Suno, Launches Licensed AI-Music Deal
HP to Cut up to 6,000 Jobs Globally as It Ramps Up AI Integration
MediaWorld Sold iPad Air for €15 — Then Asked Customers to Return Them or Pay More
UK Prime Minister Sir Keir Starmer Promises ‘Full-Time’ Education for All Children as School Attendance Slips
UK Extends Sugar Tax to Sweetened Milkshakes and Lattes in 2028 Health Push
UK Government Backs £49 Billion Plan for Heathrow Third Runway and Expansion
UK Gambling Firms Report £1bn Surge in Annual Profits as Pressure Mounts for Higher Betting Taxes
UK Shares Advance Ahead of Budget as Financials and Consumer Staples Lead Gains
Domino’s UK CEO Andrew Rennie Steps Down Amid Strategic Reset
UK Economy Stalls as Reeves Faces First Budget Test
UK Economy’s Weak Start Adds Pressure on Prime Minister Starmer
UK Government Acknowledges Billionaire Exodus Amid Tax Rise Concerns
UK Budget 2025: Markets Brace as Chancellor Faces Fiscal Tightrope
UK Unveils Strategic Plan to Secure Critical Mineral Supply Chains
UK Taskforce Calls for Radical Reset of Nuclear Regulation to Cut Costs and Accelerate Build
UK Government Launches Consultation on Major Overhaul of Settlement Rules
Google Struggles to Meet AI Demand as Infrastructure, Energy and Supply-Chain Gaps Deepen
Car Parts Leader Warns Europe Faces Heavy Job Losses in ‘Darwinian’ Auto Shake-Out
Arsenal Move Six Points Clear After Eze’s Historic Hat-Trick in Derby Rout
Wealthy New Yorkers Weigh Second Homes as the ‘Mamdani Effect’ Ripples Through Luxury Markets
Families Accuse OpenAI of Enabling ‘AI-Driven Delusions’ After Multiple Suicides
UK Unveils Critical-Minerals Strategy to Break China Supply-Chain Grip
Taylor Swift’s “The Fate of Ophelia” Extends U.K. No. 1 Run to Five Weeks
UK VPN Sign-Ups Surge by Over 1,400 % as Age-Verification Law Takes Effect
Former MEP Nathan Gill Jailed for Over Ten Years After Taking Pro-Russia Bribes
Majority of UK Entrepreneurs Regard Government as ‘Anti-Business’, Survey Shows
UK’s Starmer and US President Trump Align as Geneva Talks Probe Ukraine Peace Plan
UK Prime Minister Signals Former Prince Andrew Should Testify to US Epstein Inquiry
Royal Navy Deploys HMS Severn to Shadow Russian Corvette and Tanker Off UK Coast
China’s Wedding Boom: Nightclubs, Mountains and a Demographic Reset
Fugees Founding Member Pras Michel Sentenced to 14 Years in High-Profile US Foreign Influence Case
WhatsApp’s Unexpected Rise Reshapes American Messaging Habits
United States: Judge Dressed Up as Elvis During Hearings – and Was Forced to Resign
Johnson Blasts ‘Incoherent’ Covid Inquiry Findings Amid Report’s Harsh Critique of His Government
Lord Rothermere Secures £500 Million Deal to Acquire Telegraph Titles
Maduro Tightens Security Measures as U.S. Strike Threat Intensifies
U.S. Envoys Deliver Ultimatum to Ukraine: Sign Peace Deal by Thursday or Risk Losing American Support
×