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The Federal Open Market Committee said its policy on senior officials’ investment and trading activity will apply to more Federal Reserve System staff.
Details: The FOMC said the changes will apply the most stringent restrictions to more staff while tightening rules on all staff with access to confidential FOMC information. The policy also will feature a new compliance regime directing certain staff to submit transaction statements to verify the accuracy of their financial disclosures.
Background: The existing policy prohibits senior Fed officials involved in monetary policy decision-making from engaging in certain investment activities. The new restrictions are effective on June 30.
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