Sen. John Hickenlooper’s investment trust has been quietly buying up stock in companies that land squarely inside his Senate wheelhouse, including Uber Technologies and Eaton Corporation. Those moves are now stirring fresh ethics chatter in Colorado and in Washington, as advocates and critics alike revive calls to ban members of Congress from owning individual stocks. Hickenlooper’s office points out that a third party manages the portfolio, but skeptics say the optics are hard to ignore even if everything is technically aboveboard.
The dustup is unfolding against a wider backdrop of scrutiny over Capitol Hill trading. A February analysis by CNN found at least ten senators had reported trades that overlapped with their committee responsibilities, reviving a bipartisan push for tighter rules on what lawmakers can buy and sell. Routine financial disclosures have turned into political tripwires for members in both parties.
In Colorado, the spotlight has landed squarely on Hickenlooper’s holdings. As Westword reported, disclosure filings show his trust purchased shares in Eaton and Uber, companies that intersect with the jurisdictions of committees he serves on. Hickenlooper’s office says those assets sit in a blind trust structure and that the senator only finds out about trades when they appear in mandatory disclosure reports, consistent with public materials on his official website. Sen. Hickenlooper’s office lists his current committee assignments and related public statements.
What the filings show
A review of the Senate’s electronic disclosure system, along with recent coverage, indicates the Uber purchase was executed in mid-January and reported in early February. In an interview with NOTUS, Hickenlooper said he did not personally direct the January 14 buy, which the outlet reported was valued between $100,001 and $250,000.
Blind trusts aren't a silver bullet
On paper, qualified blind trusts are supposed to solve problems like this. The Senate Select Committee on Ethics recognizes them as a formal tool to wall off lawmakers from their assets, but only if strict rules are followed. The committee’s guidance explains that trustees must be truly independent and that specific notices and certifications must be filed with the ethics office. Local reporting has noted that the trusts used by Hickenlooper and some of his colleagues are not listed as "qualified blind trusts," a gap that ethics advocates say weakens the supposed firewall between a senator’s votes and their investments.
Where reform stands
Several proposals in Congress aim to tighten that firewall dramatically. Sens. Mark Kelly and Jon Ossoff have reintroduced the Ban Congressional Stock Trading Act, which would force lawmakers and their immediate families to either sell off covered assets or place them in a qualified blind trust, according to Congress.gov. Over in the House, the Restore Trust in Congress Act (H.R.5106) takes a similar route, with parallel restrictions on ownership and tougher reporting rules for members.
Hickenlooper's response
Hickenlooper told NOTUS that he first learned of the Uber purchase only when the transaction showed up in his disclosure filings. He added that he “has been trying to get someone to tell me what it means to be congressionally approved.” The senator said he is open to shifting into whatever arrangement the ethics office deems necessary to avoid conflicts, and his spokesperson has reiterated that he does not make day-to-day calls about which stocks the trust buys or sells.
What to watch
For Colorado readers, the episode is a case study in how dry-sounding financial filings can collide with real committee power and the politics of public trust. With reform bills moving in both chambers and media interest in member trading showing no signs of fading, lawmakers who lean on private trusts are under growing pressure to prove those setups genuinely insulate them from conflicts of interest and do not simply blur the ownership lines.
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