Former U.S. Senator Richard Burr said on Friday that the U.S. Securities and Exchange Commission informed him this week it has concluded investigation concerning him with no action.
U.S. authorities investigated Burr, a North Carolina lawmaker who did not seek reelection last year, for his stock trades before the downturn caused by the coronavirus pandemic.
Watchdog groups and other politicians slammed Burr and some other lawmakers amid reports they were buying and selling stocks after private briefings on the risks of the coronavirus crisis. Burr denied any wrongdoing and said he relied solely on news reports to make decisions on his stock transactions.
He said in January 2021 the Justice Department had closed a related probe.
“I am glad to have this matter in the rearview mirror as I begin my retirement from the Senate following nearly three decades of public service,” he said in Friday’s statement.
The SEC did not respond immediately to request for comment.