US Commerce Secretary Wilbur Ross Says He Will Sell All of His Stocks After Letters From Ethics Office

U.S. Commerce Secretary Wilbur Ross said in a statement Thursday evening that he would be selling all of his equity holdings and buying Treasury securities with the proceeds — after receiving a letter from the U.S. Office of Government Ethics saying Ross could "run afoul of the primary criminal conflict of interest law."

The November filing signed by Ross had indicated that intentionally false or misleading statement in the form is a violation of law. That's a warning that "should have triggered a more serious focus by Ross on the accuracy of his representations," said Walter Shaub, an attorney specializing in government ethics and the former head of the OGE.

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