(The Center Square) — A new report reveals that Illinois U.S. Rep. Jonathan Jackson violated federal law by failing to timely disclose more than 30 stock trades, potentially worth between $30,030 and $450,000.
Investigative journalist Dave Levinthal, a contributor to OpenSecrets, explained that the Stop Trading on Congressional Knowledge (STOCK) Act requires members of Congress to report stock trades within 45 days. Jackson failed to meet that deadline on numerous occasions.
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According to OpenSecrets, the trades—conducted earlier this year by Jackson’s wife—included stocks in Amazon, Eli Lilly, Goldman Sachs, IBM, Meta Platforms, and T-Mobile US.
In a memo to Congress, Jackson attributed the violations to an “oversight” by his financial advisor, claiming he does not personally manage the trades.
Levinthal highlighted the intent behind the STOCK Act, passed in 2021:
“Members of Congress have access to insider information not immediately available to the public, which creates the risk of personal financial gain. The STOCK Act was designed to prevent that abuse.”
This is Jackson’s second STOCK Act violation since 2023, when he failed to disclose up to $300,000 in trades from a joint trust.
Despite repeated violations, consequences remain unclear. Levinthal said,
“The consequences of violating the transparency law are not very transparent.”
Currently, the House and Senate ethics committees do not maintain a public record of fines. The penalty for first-time offenders is just $200, and even that can be waived.
Over the past decade, dozens of lawmakers have violated the STOCK Act, involving trades ranging from hundreds to millions of dollars. Some bipartisan lawmakers now seek to ban Congress members and their families from trading stocks, bonds, and cryptocurrency altogether.
Jackson’s office has not responded to requests for comment.
Meanwhile, Christian Maxwell, a Republican challenging Jackson in Illinois’ 1st Congressional District, criticized him sharply:
“There’s a clear difference between personal financial hardship and failing to comply with laws designed to ensure accountability in public service. The STOCK Act is not a suggestion—it’s the law. Without strict transparency, there’s a real danger of insider trading, or even the appearance of it, which erodes public trust.”
Maxwell emphasized that violating disclosure rules undermines voters’ confidence:
“It’s a violation of the public trust. Everyday Americans don’t get a pass on following the rules—and members of Congress shouldn’t either.”
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