The Federal Reserve adopted rules governing investments made by central bank officials. Here's everything we know: crypto
, the Fed’s Federal Open Market Committee said it unanimously adopted the new rules, originally announced in October, for senior officials and that they would go into effect on May 1.
Fed policymakers and senior staff, including board members, will be barred from purchasing individual securities, including stocks, cryptocurrencies and bonds, holding investments in agency securities—like Treasurys—and entering into derivatives contracts. Beginning June 1, officials will be required to provide 45 days of advance notice before purchasing or selling securities “to help guard against even the appearance of any conflict of interest,” the Fed said.
They will also need to obtain prior approval to transact securities and hold their investments for at least one year.widespread criticism in September, it did say that officials will no longer be allowed to purchase or sell investments during periods of “heightened financial market stress.” The rules will also require Fed presidents to publicly disclose financial transactions within 30 days, as is already required by board members and senior staff.Stock trading by government officials has faced growing scrutiny in recent months amid widespread concerns about officials being able to trade on nonpublic information.
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