Top Fed Official Under Investigation For Violating Insider Trading Rules

Raphael Bostic, President of the Federal Reserve Bank of Atlanta, is under investigation by the Federal Reserve Board’s Office of the Inspector General (OIG) for violations of ethics guidelines designed to prevent insider trading, the Atlanta Fed announced Friday.

The Atlanta Fed’s ethics department found multiple inaccuracies in Bostic’s financial disclosures, most prominently a series of trades during “blackout periods” in March and April 2020 when Fed officials are not allowed to engage in trading, the Atlanta Fed reported Friday. This prompted Bostic to amend his financial disclosures going back...