NEW YORK - A financial disclosure form for Federal Reserve Bank of Atlanta President Raphael Bostic notes more issues with reporting of past trading and investing activities.
An Atlanta Fed spokesperson said in a statement that Bostic "discovered a previously undisclosed retirement account belonging to his spouse from a former employer in the 1990s. It was immediately brought to the attention" of the bank's board, "who confirmed with President Bostic and the Atlanta Fed Ethics Officer that there were no contributions to or trades in the account starting from President Bostic’s first year in office, 2017, to the end of the filing period.
In the wake of the revelation of the regional Fed trading activity the Fed updated its ethics code to sharply limit what Fed officials, immediate family members and top staff can do with their investing. The Fed is currently working on enhancing that new system.