Monday, April 30, 2012 7:30:56 PM

POLITICS NEWS ALERT

Office of Congressional Ethics clears Rep. Spencer Bachus of insider trading

The Office of Congressional Ethics has found no evidence of violations of insider trading rules involving the chairman of the House Financial Services Committee and will recommend that the case against him be closed.

Rep. Spencer Bachus (R-Ala.), one of the most powerful politicians on Capitol Hill, has been a frequent trader, purchasing stock options while supervising the nation's banking and financial services industries.

The Office of Congressional Ethics, an independent investigative agency, opened its probe late last year after raising questions about trades on Bachus's financial disclosure forms. OCE investigators notified Bachus that he was under investigation because they had found probable cause to believe insider-trading violations might have taken place.

Read more at:
http://www.washingtonpost.com/investigations/ethics-office-clears-bachus-of-insider-trading/2012/04/30/gIQAVwvZsT_story.html

Or visit washingtonpost.com/politics.



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