Under Fire for Trades, Kelly Loeffler Says She Will Divest From Individual Stocks [The New York Times]
Morgan Stanley (MS)
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Source: The New York Times
WASHINGTON — Seeking to move past allegations that she has tried to profit from the coronavirus crisis, Senator Kelly Loeffler, Republican of Georgia, announced on Wednesday that she and her husband would divest from all individual stocks and move their money into mutual and exchange-traded funds.Ms. Loeffler, a freshman senator who was already in a competitive race to keep her seat, has faced weeks of attacks from her rivals in both parties and scrutiny from the news media overmillions of dollars’ worth of stock tradesother lawmakers who actively traded stocksMs. Loeffler adamantly denied that again on Wednesday, insisting that she had done nothing wrong, legally or ethically. The stock trades were all made by outside financial advisers at Morgan Stanley, Goldman Sachs, Sepio Capital and Wells Fargo, who independently manage her investments “without our input, direction or knowledge,” she said. Ms. Loeffler added that she was not privy to any meaningful nonpublic information about th
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