Pelosi says her husband never made stock purchases based on info she gave him
House Speaker Pelosi responded, 'Absolutely not' when pressed by Fox News Digital on whether her husband bought stock based on inside info
Reporter asks Pelosi if her husband has ever bought stocks based on information she has received: "Absolutely not"
A reporter asked Speaker of the House Nancy Pelosi if her husband, Paul, had ever bought or sold stocks using information she had received to which she responded, "No, absolutely not."
House Speaker Nancy Pelosi, D-Calif., said her husband, Paul Pelosi, never made stock purchases based on information she gave him.
Fox News Digital asked the speaker if her husband had ever made stock purchases or trades after hearing about the financial goings-on of Capitol Hill.
"No," Pelosi said. "Absolutely not."
The denial came after Pelosi made headlines when her husband made a controversial purchase of computer chip stock ahead of a congressional vote.
House Speaker Pelosi claims her husband, Paul Pelosi, never made stock purchases based on information she gave him. ((Photo by Stefano Costantino/SOPA Images/LightRocket via Getty Images) / Getty Images)
Pelosi's office responded to her husband's controversial computer chip stock trades ahead of Congress' vote on the semiconductor industry.
FOX Business reached out to House Speaker Nancy Pelosi's office for comment about her husband’s recent stock trades, particularly inquiring about Paul Pelosi's million-dollar purchase of stock in a semiconductor company as Congress is slated to vote on a $52 billion subsidy to the industry as part of a bill to increase U.S. manufacturing of computer chips to make the country less reliant on and more competitive with China.
"The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions," Nancy Pelosi’s spokesman, Drew Hammill, said in a statement to FOX Business.
Regarding proposals to ban trading by members of Congress, Hammill said, "There are at least three proposals introduced in the House in this regard and the Speaker has asked the Committee on House Administration to review these proposals," adding that FOX Business "should check with the committee on their latest."
"The Speaker believes that sunlight is the best disinfectant. The Speaker has asked Committee on House Administration Chair Zoe Lofgren to examine the issue of Members’ unacceptable noncompliance with the reporting requirements in the STOCK Act, including the possibility of stiffening penalties," Hammill said.
"To be clear, insider trading is already a serious federal criminal and civil violation and the Speaker strongly supports robust enforcement of the relevant statutes by the Department of Justice and the Securities and Exchange Commission," he added. "The Speaker led the House in passing the bipartisan Courthouse Ethics and Transparency Act, which would subject federal judges to similar disclosure requirements as those in the STOCK Act. President Biden signed this bill into law in May."
Pelosi made headlines when her husband made a controversial purchase of computer chip stock ahead of a congressional vote. (Fox News Digital)
This comes after Paul Pelosi made a purchase of between $1 million and $5 million shares of Nvidia, which is a semiconductor company, according to a disclosure filing made by Pelosi's office. He exercised 200 call options, or 20,000 shares, the disclosure states.
Reuters reported that the Senate could vote on a bill that contains billions of dollars in subsidies within the semiconductor industry as early as Tuesday.
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The bill could authorize as much as $52 billion in chip subsidies as well as tax credits in order to increase competitiveness with China.
Congress is aiming to pass the bill and send it to President Biden's desk before leaving for their August recess.
Fox News’ Hillary Vaughn and Danielle Wallace contributed reporting.