Congress Votes Against STOCK Act Internet Posting Requirement Taking Effect
Washington, DC - Today, Congress took final action to keep from taking affect the requirement contained in the STOCK Act to post annual financial disclosure forms on the internet . This was a necessary, logical conclusion based on the findings of the report of the National Academy of Public Administration (NAPA).
The Senior Executives Association (SEA) thanks Congress for taking definitive action to put an end to a provision that would have done little to further ethics oversight yet would have caused immense harm to national, operational, and personal security. From the beginning, SEA sounded the alarm about the unintended consequences that would result from the internet posting requirement and advocated removing career employees from the requirement.
"SEA is grateful to Congress for recognizing the harm that would have resulted from posting financial disclosure statements of senior level career employees on the web. In the interest of ensuring that government works effectively, which includes safeguarding employees' sensitive information, this was the right decision," stated Carol Bonosaro, president of the Senior Executives Association.
SEA is especially grateful for the continued support by allies in Congress to address this issue. SEA recognizes the efforts put forth by Senate Majority Leader Reid (D-NV), House Majority Leader Cantor (R-VA), Representatives Hoyer (D-MD) and Van Hollen (D-MD), among many others, to find a way forward that ensured appropriate ethics oversight while addressing security concerns.
"Although SEA strongly objected to internet posting, the Association does agree with the NAPA recommendation to examine internal ethics procedures and stands ready to work with Congress to ensure that ethics laws are uniform and effective," continued Bonosaro.