Fed official broke ethics rules but didn’t violate insider trading laws, probe finds

WASHINGTON (AP) — A government investigation into Atlanta Federal Reserve President Raphael Bostic’s securities trades and investments has found he violated several of the central bank’s ethics policies. The violations created the appearance that Bostic acted on confidential Fed information and that he had a conflict of interest. But according to a report issued Wednesday, the Fed’s Office of Inspector General concluded there was no violation of federal insider trading or conflict of interest laws. In 2022, Bostic acknowledged that many of his financial trades and investments inadvertently violated the Fed’s ethics rules and said he took action to revise all his financial disclosures.