Senators introduce Fed ethics law

congress

Four Democratic senators introduced legislation to forbid Federal Reserve officials from holding or trading individual stocks and other securities on October 26.

The proposed law, titled the ‘‘Ban Conflicted Trading at the Fed Act’’, would also impose civil penalties on violators. The legislation is similar to regulations the Federal Reserve Board said it would adopt last week.

The senators’ legislation would ban “investment in a security, a commodity, a virtual currency, or a future”, or any

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