Congresswoman Elise Stefanik (R-NY) called on the SEC to investigate Harvard University, suggesting her alma mater may have concealed critical information from investors during recent bond offerings amidst tensions with the Trump administration over federal funding.

In a letter addressed to SEC Chair Paul Atkins, Stefanik, a 2006 Harvard graduate, accused Harvard of lacking transparency regarding its bond issuance. She pointed out that the timing of these offerings, shortly after the White House scrutinized Harvard’s civil rights compliance and potential funding restrictions, raises concerns.

Stefanik argued Harvard might have already decided to reject White House conditions linked to civil rights inquiries, but failed to inform investors beforehand. She noted that a supplemental filing on April 15 revealed risks tied to the federal probe, including efforts to tackle campus antisemitism and alleged race discrimination in admissions and employment.

She emphasized that investors should have been fully informed about these risks at the initial bond offering on April 9, asserting that withholding such material information could violate federal securities laws.

She further criticized Harvard’s recent borrowing of over $1.2 billion in taxable bonds, adding to its existing $7.9 billion debt, and questioned the institution’s short- and medium-term financial stability given the ongoing federal investigation.

“Harvard, as a significant tax-exempt entity influencing policy and research, must maintain the highest level of transparency. Investors deserve complete and timely disclosure, especially when an institution is under federal scrutiny,” Stefanik stated.

This call for investigation is part of a broader conflict between Harvard and the Trump administration, which has recently demanded compliance with certain federal standards or face the loss of billions in federal contracts and grants. Harvard and the SEC have not yet responded to comment requests.