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Lawmakers to draw up ethics rules in wake of Collins arrest

WASHINGTON — The House Ethics Committee Monday appointed two lawmakers to develop ethics rules stemming from last year's arrest of Rep. Chris Collins, a Clarence Republican.

A House resolution approved in June prohibits House members, officers and employees from serving as a director of a publicly traded company. In addition, that resolution says the Ethics Committee "shall develop regulations addressing other types of prohibited service or positions that could lead to conflicts of interest."

Democratic Rep. Susan Wild of Pennsylvania and Republican Van Taylor of Texas will draw up those regulations, the Ethics Committee said.

Collins was the last lawmaker to serve on the board of a publicly traded company.

For several years, Collins served on the board of Innate Immunotherapeutics, an Australian biotech. Federal prosecutors — who last August charged Collins with several federal felonies — say Collins took inside information he got as an Innate director in June 2017 and passed it on to his son Cameron, thereby spurring a series of illegal insider stock trades.

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