The disclosures are legal as long as lawmakers follow reporting rules and do not trade on confidential information obtained through their official roles. There is no evidence that Meuser or Cisneros traded on nonpublic information or violated any law. Still, the purchases are politically sensitive because of their committee assignments. Meuser sits on the House Financial Services Committee, which oversees areas tied to securities and exchanges.
Cisneros sits on the House Armed Services Committee, which oversees the Defense Department, which is a major SpaceX customer. Cisneros said in a statement to CNBC that he and his wife use outside financial advisers and do not personally manage day-to-day trading decisions. He also said that he has complied with disclosure rules while serving in both the executive and legislative branches and supports stronger ethics oversight for officials’ financial portfolios.
The Start of More SpaceX Disclosures?
It’s possible these trades are just the start of a larger wave of SpaceX-related disclosures from Congress. Indeed, ethics watchdogs have said that they expect more lawmakers from both parties to eventually report trades tied to the firm. These filings are also likely to keep the ongoing debate alive over whether members of Congress and their families should be allowed to trade individual stocks while in office.
