Business

Warren rolls out plan that would ban federal judges from owning or trading individual stocks

Oct 08, 2019

Washington (USA) Oct 08: Democratic presidential candidate Elizabeth Warren on Monday proposed banning federal judges from owning or trading individual stocks as part of a broader plan to "restore" trust in the judiciary.
"It's time to ensure that judges do not hear cases where they have conflicts of interests, strengthen our nation's ethics rules for judges, and ensure accountability for judges who violate these rules," Warren wrote.
The Massachusetts senator cited the example of Eleventh Circuit Court of Appeals Judge James Hill in making her case.
"Hill ruled in favor of Johnson & Johnson in a case brought by a woman who suffered from a malfunctioning medical implant," Warren claimed, referencing a story by the Center for Public Integrity. "He did so while owning as much as $100,000 in the company's stock."
Such a ban would avoid the appearance of impropriety and allow federal judges to instead invest in conflict-free mutual funds or open new investment accounts managed by the Federal Retirement Thrift Investment Board, Warren said. She compared the ban to policies put in place by law firms to avoid the appearance of a conflict of interest with lawyers and clients.
Warren is a former professor at Harvard Law School and is no stranger to the judicial system.
Source: Fox Business

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