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SEC Commissioner Hester Peirce joins ‘Barron’s Roundtable’ to discuss several issues facing the commission and potential actions, effects of decisions surrounding climate disclosures, crypto regulation and commission-free trading.
Paul Pelosi, House Speaker Nancy Pelosi's husband, made a stock purchase of over $1 million in a computer chip company just weeks before a potential vote in congress which would give a massive subsidy to the industry.
Mr. 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.
The bill could send as much as $52 billion in chip subsidies as well as tax credits in order to increase competitiveness with China.
HOUSE SPEAKER NANCY PELOSI'S HUSBAND PAUL CHARGED WITH DUI AFTER MAY CRASH IN CALIFORNIA
Paul Pelosi and Nancy Pelosi attend the 2018 White House Correspondents’ Dinner at Washington Hilton on April 28, 2018 in Washington, DC. (Photo by Tasos Katopodis/Getty Images / Getty Images)
Congress is aiming to pass the bill and send it to President Biden's desk before leaving for their August recess.
Craig Holman, who is a Capitol Hill lobbyist for Public Citizen, a left-leaning think tank, told the Daily Caller News Foundation that the disclosure is concerning.
HOUSE SPEAKER NANCY PELOSI'S HUSBAND PAUL ARRESTED IN CALIFORNIA, CHARGED WITH DUI
Speaker of the US House of Representatives Nancy Pelosi and husband Paul Pelosi. (Photo by Samuel Corum/AFP via Getty Images) / Getty Images)
"It certainly raises the specter that Paul Pelosi could have access to some insider legislative information," Holman said. "This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do likewise."
The disclosure also shows that Mr. Pelosi sold shares of Apple and Visa.
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FOX Business reached out to Pelosi's office.
Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.
This material may not be published, broadcast, rewritten, or redistributed. ©2022 FOX News Network, LLC. All rights reserved. FAQ – New Privacy Policy