Drudge Retort: The Other Side of the News
Sunday, March 19, 2023

US law prohibits FCC employees from owning stock in firms regulated by the agency.




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...The Federal Communications Commission should be investigated for letting employees own stock in Comcast, Charter, AT&T, and Verizon, nonprofit watchdog group Campaign Legal Center told government officials.

"Federal law specifically bans FCC employees from owning 'any stocks, bonds, or other securities of [any company] significantly regulated by the Commission,'" the nonprofit group said last week in a letter and detailed report sent to FCC Acting Inspector General Sharon Diskin. "Despite this ban, the most recent financial disclosures publicly available show that ethics officials allowed multiple FCC employees to own stock in telecommunications and other companies that appear to fall under the prohibition."

The letter, sent by Campaign Legal Center General Counsel Kedric Payne and two other lawyers at the group, urged the FCC Office of Inspector General (OIG) to "investigate whether the FCC's ethics officials took appropriate action to enforce the ethics laws... The ethics officials responsible for enforcement must explain to OIG and the public why they allowed employees to hold stocks in FCC licensed telecommunications and computer companies in apparent violation of the law."

Citing the most recent financial disclosure reports, which cover the Chairman Ajit Pai-era years of 2018 and 2019, the Campaign Legal Center report said FCC official Rosemary Harold owned Comcast stock with a value between $3,003 and $45,000. Harold was the FCC Enforcement Bureau chief during that time and is now a deputy chief with the FCC Media Bureau. The report also said former FCC official Lisa Hone, then a deputy bureau chief, owned Charter Communications stock worth between $4,004 and $60,000.

Hone and former FCC Chief Information Security Officer Andrea Simpson owned AT&T stock, with the two employees' AT&T holdings adding up to somewhere between $2,203 and $31,001, the report said. Harold and former Chief Technology Officer Eric Burger reportedly owned Verizon stock with a combined value between $7,007 and $105,000. The wide stock value ranges are a result of how employee stock holdings are reported in financial disclosure forms....

#1 | Posted by LampLighter at 2023-03-18 07:49 PM | Reply | Newsworthy 3

This is trump's idea of DRAINING THE SWAMP - making it more corrupt.

He was draining REGULATION from the swamp.

#2 | Posted by SpeakSoftly at 2023-03-19 01:43 PM | Reply | Newsworthy 3

And of course they are talking about the Trump years...when Trump officials were trying to help out ISPs.

#3 | Posted by Sycophant at 2023-03-19 08:13 PM | Reply

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