Call for Investigation to Identify if Anyone Obtained or Used Nonpublic Market-Moving Information for Private Gain
Jun 08, 2018Colorado U.S. Senator Michael Bennet, along with Senators Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.), today sent letters to the Bureau of Labor Statistics (BLS), Securities and Exchange Commission (SEC), Commodities Futures Trading Commission (CFTC), and the White House Council of Economic Advisers (CEA) expressing concern over President Donald Trump's reckless comments on market-moving economic data prior to their public release. The senators noted that this was a violation of federal guidelines and asked the SEC and CFTC to investigate whether any person or corporate entity was able to obtain and use market-moving information before the official release and questioned BLS about the controls it has in place to keep the data confidential. They also pressed the CEA on what additional steps the Administration will take to ensure that no one is taking advantage of the prerelease data for private gain.