Treasury Secretary Under Scrutiny: The Push to Divest Illiquid Assets
U.S. Treasury Secretary Scott Bessent is under pressure to complete the divestiture of illiquid assets, including farmland, by year-end, amid compliance delays with his ethics agreement. The Office of Government Ethics highlighted the issue, emphasizing Bessent's responsibility to avoid conflicts of interest associated with his holdings.
U.S. Treasury Secretary Scott Bessent is facing scrutiny for not meeting deadlines to divest his personal assets as part of an ethics agreement signed earlier this year. The Office of Government Ethics (OGE) has expressed concerns over his delay, emphasizing the risk of conflicts of interest.
Bessent, who plays a crucial role in President Trump's economic agenda, committed to divesting various assets, including his hedge fund and farmland, to adhere to ethical guidelines. While most divestitures were scheduled to be completed by April, Bessent stated that just 4% remains, primarily illiquid farmland.
As he works to finalize the divestitures by December 15, Treasury officials remain in constant communication with OGE, ensuring all steps are taken to prevent conflicts of interest. In the interim, Bessent has recused himself from decisions impacting unsold assets, and procedural safeguards are in place at the Treasury.
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