Atlanta Federal Reserve Chief Investigated for Breaking Trading Rules

[Epoch-Times-Bot]

Atlanta Federal Reserve Chief Investigated for Breaking Trading Rules

Raphael Bostic, president of the Atlanta Federal Reserve Bank, is currently under investigation after admitting to not disclosing certain trading activities that he engaged in during restricted periods.
Since assuming office in 2017, Bostic claims he has ensured his assets are only held in managed accounts which neither he nor his personal investment advisor has the ability to direct, the Fed president said in an Oct. 14 statement (pdf). However, Bostic claims that he only learned later on that transactions done by third parties on such accounts must also be listed in the annual disclosure forms.
"Due to my reliance on a third-party manager, I was unaware of any specific trades or their timing, including a limited number that took place during Federal Open Market Committee (FOMC) blackout periods or financial stress periods," Bostic said in the statement....

Source: Atlanta Federal Reserve Chief Investigated for Breaking Trading Rules

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