Senior US Federal Reserve officials will be banned from trading in individual stocks, bonds, digital money and other investments under new rules approved on Friday, following controversial stock exchange deliberations that led to the resignations of prominent figures last year.
Under new rules unanimously approved by the Federal Open Market Committee, which is tasked with setting policy, US central bank officials, including its president and vice president, will not be allowed to hold foreign currencies or engage in operations known as “short selling” and “margin trading.”
The commission said in a statement that the rules “are intended to enhance public confidence in the impartiality and integrity of the commission’s work by protecting once morest the appearance of any conflict of interest.”
The new rules also specify senior officials who will be prohibited from trading “during periods of increased stress on financial markets”.
Source: Arabic
