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Exhibit 806

Report of Investigation on the Closing of 23-0020-I Federal Reserve Bank of Atlanta President's Trading Activity

Exhibit 806 ยท Inspector general report

Report of Investigation on the Closing of 23-0020-I Federal Reserve Bank of Atlanta President's Trading Activity

We found that Dr. Bostic violated

Requested by Chair Powell on 14 October 2022 for 2017-2021. The OIG found President Bostic violated the FOMC blackout rule (trades executed in managed accounts during blackout periods), the Reserve Bank disclosure statement policies (2018 to 2022), the prohibited holdings policy (Treasury holdings above $50,000, June 2021 to June 2022) and the preclearance rule (two instances). It determined there were no violations of insider trading or federal conflict-of-interest law.

Source
Federal Reserve Board Office of Inspector General
Date
4 September 2024
Quoted from
Case 23-0020-I, p. 2
Grade
Primary record
Document
https://oig.federalreserve.gov/releases/investigation-closing-frb-atlanta-trading.pdf
Accessed
2026-11-09
Cited by
Findings citing this exhibit

Cited by

Finding POL-8.14
Primary record The Fed's Office of Inspector General found that Chair Powell and Vice Chair Clarida did not violate the trading rules then in effect, that Dallas Fed President Kaplan violated no rule, and that Boston Fed President Rosengren did not report multiple 2020 trades on his disclosure form, and it found insufficient evidence for a law-enforcement referral in each case. On 4 September 2024 the OIG reported that Atlanta Fed President Bostic violated the FOMC blackout rule, the disclosure policies, the prohibited-holdings policy and the preclearance rule, and no insider-trading or federal conflict-of-interest law.