Independent review launched into trading activity by senior Fed officials - reports

Fed will ‘take appropriate actions’ based on findings

clock • 2 min read
Independent review launched into trading activity by senior Fed officials - reports

A US government watchdog, which has independent oversight of the Federal Reserve, has launched a review into whether trades undertaken by some central bank officials last year complied with ethics rules, according to reports.

The FT reported that, in a statement, the Fed said: "As part of our comprehensive review, we began discussions last week with the Office of Inspector General for the Federal Reserve Board (OIG) to initiate an independent review of whether trading activity by certain senior officials was in compliance with both the relevant ethics rules and the law. "We welcome the [OIG] review and will accept and take appropriate actions based on its findings." Fed signals tapering of bond buying in 'tantalisingly vague' message It comes after US Senator Elizabeth Warren wrote to Gary Gensler, chai...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

Market Movers Blog: S&P 500 slides into bear market

Market Movers Blog: Russia defaults on foreign debt - reports

Latest news and analysis

Investment Week
clock 27 June 2022 • 1 min read
The fall in sales volumes over the month was because of food stores, which fell by 1.6%.
UK

UK retail sales slip in May as consumer confidence falls to lowest on record

Shoppers cut back on food spending

clock 24 June 2022 • 2 min read

Event Voice: Your Questions Answered by Barings at the Fixed Income Event

Barings
clock 23 June 2022 • 2 min read
Trustpilot