Why Republican Congressman Betting on 'Data Dinosaur' SPGI Entered a Downturn
On January 14, senior Republican Representative Richard W. Allen purchased $15,001 to $50,000 worth of shares in credit ratings, index, and financial data provider S&P Global Inc. (NYSE: SPGI). The transaction—valued at approximately ₩20–65 million—was disclosed under the STOCK Act on February 4 and formally reported on February 17.
S&P Global is a global market infrastructure company that provides the S&P 500 index, corporate and sovereign credit ratings, and financial data and research. Since the start of 2026, its stock has plunged about 25% over the one-month period surrounding its earnings release, leaving its year-to-date return well below –20%. In its Q4 2025 results announced on February 10, revenue slightly exceeded analysts’ estimates, but earnings per share (EPS) narrowly missed expectations, and its guidance for 2026 revenue and profit growth fell short of Wall Street consensus. This “solid results but disappointing outlook” narrative drove the stock down roughly 10% in a single day.
Representative Allen serves on the House Energy and Commerce Committee and the Education and Labor Committee, where he chairs the Subcommittee on Employment, Labor & Retirement. He has publicly championed pro-business, deregulatory policies aimed at easing corporate burdens and promoting private-sector growth. Given that SPGI’s indices underpin key U.S. pension plans, retirement savings, and exchange-traded funds (ETFs), his legislative work on labor, retirement systems, and digital data and commerce policy could potentially intersect with his personal financial interests.
Across Washington, critics argue that the STOCK Act is insufficient to prevent conflicts of interest, and there is bipartisan momentum behind proposals to ban members of Congress and their families from trading individual stocks. Although Allen’s transaction appears to comply with existing law, it underscores the regulatory risks and the ongoing debate over perceived conflicts of interest.