House Speaker Paul Ryan Paul Davis RyanKenosha will be a good bellwether in 2020 At indoor rally, Pence says election runs through Wisconsin Juan Williams: Breaking down the debates MORE (R-Wis.) on Wednesday said Rep. Chris Collins Christopher (Chris) Carl CollinsConspicuous by their absence from the Republican Convention NY Republican Chris Jacobs wins special election to replace Chris Collins 5 things to watch in Tuesday's primaries MORE (R-N.Y.) has been removed from his post on the House Energy and Commerce Committee as a result of the lawmaker's indictment on insider trading charges.

Collins was arrested and charged with federal securities fraud related to an Australian pharmaceutical company of which he had been the largest shareholder.

ADVERTISEMENT

“While his guilt or innocence is a question for the courts to settle, the allegations against Rep. Collins demand a prompt and thorough investigation by the House Ethics Committee," Ryan said in a statement. "Insider trading is a clear violation of the public trust. Until this matter is settled, Rep. Collins will no longer be serving on the House Energy and Commerce Committee.”

House Majority Whip Steve Scalise Stephen (Steve) Joseph ScaliseHouse GOP slated to unveil agenda ahead of election House panel details 'serious' concerns around Florida, Georgia, Texas, Wisconsin elections Scalise hit with ethics complaint over doctored Barkan video MORE (R-La.) backs the Speaker’s decision to remove Collins from the committee, a Scalise spokesman told The Hill.

According to the indictment, Collins's son, Cameron Collins, and Stephen Zarsky, the father of Cameron Collins's fiancée, are also being charged.

The Buffalo-area congressman turned himself in to the FBI and is slated to appear in court later in the day, NBC News reported.



An Office of Congressional Ethics report released in 2017 stated there is “substantial reason to believe” he shared nonpublic information about the Australian pharmaceutical company.