Apparently Gallagher only owned “7,000 shares of Penn Treaty and made more than $7,200 trading it and owned up to 3,000 shares of Conseco and lost more than $1,000 trading it.” This is not a guy making a bundle off these trades. If Gallagher had made hundreds of thousands of dollars then I could understand the potential conflict of interest.
Gallagher is running for the Republican nomination to replace Gov. Jeb Bush. According to Pete Dunbar, a lobbyist and former commission member, “The violations aren’t serious and probably won’t result in a large - if any – fine. There was no misuse of public office. There is an embarrassing, inadvertent mistake.”
Regardless of the amount of money traded or shares owned Gallagher did own stock in these companies while he was Insurance Commissioner. That could be enough for some people to not trust him.
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