Overview

• Testifying before the House Judiciary Committee on Sept. 17, Kash Patel said he submits proposed trades for Department of Justice and FBI review before buying stocks.
• Office of Government Ethics filings show Patel bought $15,001 to $50,000 of Krispy Kreme on May 9 and $50,001 to $100,000 of ON Semiconductor on May 12.
• The disclosure labels the purchases as having no current conflict, and Patel previously sold more than 40 holdings to reduce potential conflicts.
• Krispy Kreme shares jumped as much as 11.5% intraday after Patel’s comments, then closed up 0.96% and rose about 3.8% after hours.
• Members of Congress are pushing to restrict stock trading by senior officials, and Patel told Rep. Joe Neguse he would work with him on related legislation.