Chris Jacobs Among 22 Lawmakers On List Who Missed Stock Act Deadlines | Local News
Asked about the dozen times Jacobs has reported the sale of municipal bonds late, Jacobs spokesman Christian Chase said: âAs part of a review in preparation for the annual financial disclosure of the Congressman Jacobs, and based on advice from the House Ethics Committee, it was decided that these transactions should be submitted on a Periodic Transaction Report (PTR). After making this decision, a PTR was prepared and filed disclosing all reportable transactions.
The only stock transaction Jacobs reported late was his receipt of shares in DT Midstream Inc., a company that was split from DT Energy, a company in which Jacobs had invested for years. While this transaction was dated July 1, Chase said Jacobs only became aware of it on August 13, and then filed a transaction report on the shares he received within 30 days.
“Congressman Jacobs strongly believes in transparency,” Chase added. “It uses a compliance firm, which performs regular reviews to ensure full compliance with financial disclosure requirements.”
When asked if it was significant that Jacobs’ transactions primarily involved municipal bonds rather than stocks, Delaney Marsco, senior ethics counsel at the Campaign Legal Center, noted that it is important that lawmakers also promptly report bond transactions. For example, the infrastructure bill currently in Congress could affect the entities issuing the bonds sold by Jacobs, such as the New York State Thruway Authority and the Port Authority of New York and New Jersey.