Shulou(Shulou.com)11/24 Report--

Beijing, October 14 (Xinhua)-- the top regulatory body of the US business community is also the stronghold of Washington's most active investors, according to an investigation by the US media.

FTC officials actively invest in the technology company, the Federal Trade Commission (FTC), the antitrust agency in the United States. In recent years, it has surveyed almost all major industries. It launched antitrust investigations into technology companies, vetted credit card companies and moved to limit mergers of pharmaceutical, energy and defense companies.

But at the same time, a US media survey of the financial disclosures of 50 US federal agencies between 2016 and 2021 showed that the average number of stock, bond and fund transactions disclosed by senior FTC officials exceeded those of any other major agency.

FTC officials have the largest number of transactions and many of the investments made by FTC officials have conflicts of interest with their jobs. According to transactions disclosed by FTC, 1/3 of the committee's 90 senior officials held or traded shares of the company that were under review or investigation by the FTC merger. During the period under review, FTC filed lawsuits against about 60 large companies, 22 of which were owned by its officials. These officials spend the most money on technology, but the bank has come under increasing scrutiny by the agency. Nearly 1/4 of senior FTC officials own or trade shares in technology companies such as Amazon, Facebook parent company Meta, Google, Microsoft and Oracle, according to the survey.

For example, a chairman of FTC, which owns shares in Microsoft, Oracle and AT&T, was conducting sensitive reviews that affected the technology and telecoms industries. The head of FTC's international division bought and sold Facebook shares through a financial adviser while his office was coordinating an investigation involving Facebook with overseas law enforcement officials. When FTC reviewed mergers and acquisitions involving these companies, an official in charge of consumer protection held shares in more than 10 companies.

A spokesman for FTC said that agency officials had complied with the law. The spokesman said the agency had a "sound ethical procedure" and complied with the rules laid down by Congress and the Government Ethics Office. He says his ethics office reviews information disclosed by senior staff and advises them on how to follow the rules.

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