The Federal Reserve on Thursday announced new rules governing the investments and trades made by central bank officials
, Fed policymakers and senior staff, including board members, will be barred from purchasing individual securities, including stocks and bonds, holding investments in agency securities—like Treasurys—and entering into derivatives contracts.
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 must also obtain prior approval to transact securities and hold their investments for at least one year.widespread criticism last month, it did specify 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. ' request for comment, said the new restrictions would be incorporated into the Fed's rules and policies"over the coming months.
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