Key facts
- Treasury Secretary Scott Bessent failed to report at least $100,000 of JPMorgan stock.
- The error was discovered in July 2025, and Bessent's spouse immediately divested the stock.
- Bessent paid a $200 late filing fee for the unreported transaction.
- Bessent has an ethics agreement requiring divestment of certain assets before joining the Cabinet.
- The Office of Government Ethics has granted Bessent an extension until December 15 to comply with the agreement.
Treasury Secretary Scott Bessent "inadvertently" failed to report at least $100,000 of JPMorgan stock, according to a statement from his representative. The error was not discovered until July 2025, at which point Bessent's spouse immediately divested the shares. Bessent also paid a $200 late filing fee for not reporting the sale within the required timeframe.
Bessent, a former hedge fund manager, entered into a conflict-of-interest agreement before joining President Donald Trump's Cabinet. The Office of Government Ethics (OGE) certified his disclosure form on Tuesday and has granted him an extension until December 15 to complete the divestiture of remaining assets. Bessent stated that he has divested 96% of the agreed-upon assets, with much of the remainder being illiquid farmland.