Atlanta Fed President Bostic Acknowledges Additional Issues with Past Financial Disclosures
Atlanta Federal Reserve Bank President Raphael Bostic admitted to more issues with his past financial disclosures on Thursday, as financial disclosure forms for regional Fed bank leaders covering 2022 were released. Previously, Bostic acknowledged trades made by unmanaged funds held by him and his spouse during restricted periods, violating Fed rules.
In a statement, Bostic said, “The transactions that occurred on May 2, 2022, were associated with funds invested through one such account and occurred prior to realizing that they were subject to blackout restrictions.” When preparing his disclosure form for 2021, Bostic realized that “a few entries on the Form A covering calendar year 2021 needed to be clarified.”
Bostic has reported the trades to his bank, the Board of Governors, and the Federal Reserve’s Inspector General, which is currently investigating trading activities by regional Fed banks.