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Biden Campaign Bans Staff From Trading Stocks Without Approval
The Biden campaign is forbidding staff from trading individual stocks without approval from the campaign’s general counsel, according to an email sent by the Democratic nominee’s top lawyer to staff on Monday afternoon.
Joe Biden’s general counsel, Dana Remus, wrote in an email to staff obtained by Bloomberg News that the campaign is updating its employee handbook to “ensure that staff do not even inadvertently trade on nonpublic information.” The rule says staff cannot trade stocks “without advance written approval of the General Counsel,” and it will remain in effect until Dec. 14, 2020, the date the Electoral College votes.
A stock trading ban is unusual for presidential campaigns, and experts say Biden is likely the first major candidate to institute such a policy. Hillary Clinton, the last Democratic nominee, did not have a similar policy in place, and Donald Trump’s campaign has not announced a similar policy. The president’s campaign did not respond to multiple requests for comment.
The Biden campaign said the new policy was part of an effort to follow “the highest ethical standards.”
“Donald Trump is making millions of dollars off of taxpayer money steered to his company,” spokesman Bill Russo said in a statement. “As we gear up to officially become the Democratic nominee, we took a moment to ensure that the policies of our campaign represent the highest ethical standards.”
Joe Biden’s general counsel, Dana Remus, wrote in an email to staff obtained by Bloomberg News that the campaign is updating its employee handbook to “ensure that staff do not even inadvertently trade on nonpublic information.” The rule says staff cannot trade stocks “without advance written approval of the General Counsel,” and it will remain in effect until Dec. 14, 2020, the date the Electoral College votes.
A stock trading ban is unusual for presidential campaigns, and experts say Biden is likely the first major candidate to institute such a policy. Hillary Clinton, the last Democratic nominee, did not have a similar policy in place, and Donald Trump’s campaign has not announced a similar policy. The president’s campaign did not respond to multiple requests for comment.
The Biden campaign said the new policy was part of an effort to follow “the highest ethical standards.”
“Donald Trump is making millions of dollars off of taxpayer money steered to his company,” spokesman Bill Russo said in a statement. “As we gear up to officially become the Democratic nominee, we took a moment to ensure that the policies of our campaign represent the highest ethical standards.”
https://www.bloomberg.com/news/articles/2020-07-27/biden-campaign-bans-staff-from-trading-stocks-without-approval
