Donald Trump's transition team has defended his nominee for health and human services secretary from charges he bought shares in a company days before introducing legislation that would have benefited the firm.
A Senate confirmation hearing is scheduled for Wednesday for Tom Price, a Republican congressman from Georgia who, if confirmed, would be a lead agent in carrying the US president-elect's plans to overhaul Barack Obama's signature healthcare law.
CNN reported on Sunday that Price bought between $US1001 and $US15,000 worth of shares last March in Zimmer Biomet Holdings, a medical device manufacturer.
Days later, he introduced legislation to the House of Representatives that would have delayed a regulation that could have ultimately damaged the company, CNN said.
The Trump transition team said on Monday the stock purchase was directed not by Price but by a broker and Price did not become aware of it until well after the legislation was introduced.
"Any effort to connect the introduction of bipartisan legislation by Dr Price to any campaign contribution is demonstrably false," transition spokesman Phil Blando said.
Senator Chuck Schumer of New York, the leader of the Democratic minority in the Senate, called on the Office of Congressional Ethics to investigate whether Price had violated the 2012 Stock Act, a law designed to combat insider trading.
"The president-elect claims he wants to drain the swamp, but Congressman Price has spent his career filling it up," Schumer said in a statement.
Price is one of eight Trump Cabinet nominees to face Senate confirmation hearings this week, starting on Tuesday with Ryan Zinke, a Republican Montana congressman pegged as interior secretary, and philanthropist Betsy DeVos, who is the education nominee.
Trump's inauguration is on Friday and his team hopes to have as many as many as seven nominees confirmed by then.
