Malinowski files amended transaction reports

Rep. Tom Malinowski (D-Ringoes) submitted two amended Periodic Transaction Reports with the Clerk of the U.S. House of Representatives on Friday that addresses incongruities related to previous disclosures of his stock trades.

“These submissions reflect previously disclosed transactions which appeared on either the Congressman’s annual or periodic transaction reports and are now reconciled across both platforms,” said Colston Reid, Malinowski’s chief of staff.  “Additionally, supplemental detail has been provided on Congressman Malinowski’s trading history where necessary to ensure complete accuracy.”

Reid said that today’s filings “support Congressman Malinowski’s commitment to complete transparency with the public and were drafted as part of his effort to assist the Office of Congressional Ethics with their ongoing review of the Congressman’s periodic transaction reports.”

The two-term congressman’s stock trades – and late disclosures of their specifics — have led to a pair of ethics complaints being filed against him.

Reporting requirements under Stop Trading on Congressional Knowledge (STOCK) Act requires Members of Congress to report transactions “within 30 days of notice of the transaction, but in no case later than 45 days after the transaction.”

As a result, Malinowski is in the process obviating future problems by removing himself from his personal financial transactions.

“Congressman Malinowski is holding himself to an even higher standard than the law or regulations require by placing his investments in a totally blind trust that will go into effect immediately pending approval by the House Ethics Committee,” Reid said.

The New Jersey Globe reported on Wednesday that Malinowski is no longer buying or selling stocks until the blind trust is approved and has instructed his broker to make no further trades.

Malinowski’s stock deals are expected to be an issue in his bid for re-election to a second term in New Jersey’s 7th district next year.

Thomas Kean, Jr., the minority leader of the New Jersey State Senate, will announce his bid for the seat next week.  Kean came within 1% of ousting Malinowski in 2022.

Last month, the National Republican Congressional Committee has a launched a new five-figure digital ad and billboard campaign skewering Malinowski on his stock trades.