Ethical Concerns in Federal Agencies
Last November, the Department of Health and Human Services announced the removal of “black box” warnings on hormone replacement therapies. This decision aimed to reverse years of stigma around treatments for menopause symptoms.
Alicia Jackson, director of a federal health agency investing in medical technology, praised the change as benefiting women and science. According to disclosure records from ProPublica, Jackson might financially benefit from this policy decision. She founded Evernow, an online platform that connects women with medical experts to treat menopause symptoms.
Jackson retains at least $115,000 in Evernow stock, alongside a significant portfolio that poses potential conflicts of interest in her role at the Advanced Research Projects Agency for Health (ARPA-H). Although the FDA panel recommended ending the warning months before Jackson joined the government, ethics experts indicate that her endorsement still represents a conflict of interest.
Federal law prohibits government employees from participating in matters that could influence their personal finances, including making statements.
Months after removing the warnings, Evernow expanded nationwide. Jackson, under federal law, has to submit financial disclosure forms; however, her filings remain uncertified. HHS spokespersons stated Jackson is on administrative leave while the department reviews her situation.
Bloomberg Law reported that there was a draft memo to waive Jackson’s conflicts, but Evernow wasn’t listed among investments covered by the waiver. Two firms connected to Jackson sought ARPA-H funding, but it’s unclear if they received support. The Office of Government Ethics hasn’t listed Jackson among those receiving waivers.
ProPublica’s Trump Team Financials database has added details from Jackson’s disclosures. Jackson’s experience spans technology, government, and entrepreneurship, including leading Evernow from 2019. The biotech firm links women with providers to offer treatment options and lists celebrity investors like Gwyneth Paltrow and Cameron Diaz.
Jackson became ARPA-H director in Oct. 2025, leading an agency focused on innovative biomedical research with a $1.5 billion budget. Her disclosures indicate investments in firms like Gameto Inc. Jackson has significant venture capital ties, co-managed by her husband’s firm, 137 Ventures.
Federal appointees must disclose spouses’ employment, yet Jackson didn’t list her husband’s role. Experts warn that Jackson’s funds could conflict with the agency’s activities. Although she retained her investments, the details remain undisclosed according to her August financial statement.
Jackson’s husband owns stock in Palantir Technologies, which had a contract with ARPA-H when Jackson became director. Palantir’s contract has since been extended, yet HHS didn’t answer if Jackson recused herself from related decisions.
ProPublica continues examining disclosures to understand how financial interests impact government decisions. New records from HHS show Health Secretary Robert F. Kennedy Jr. receiving scrutiny for potential conflicts. His wife’s media company received fees from a nonprofit promoting his agenda, raising questions about influence over policy decisions.
Campaign Legal Center has requested investigations into whether Kennedy prioritized public good over personal gain. HHS denied any ethical misconduct, citing compliance with federal laws.
The Trump administration reduced federal ethics staff, impacting oversight capabilities. Some officials’ disclosure records revealed timing of stock sales, potentially benefiting from insider information. These ethics concerns have reached high levels in the administration.