From CNBC:

A watchdog report criticizes two former high-ranking Federal Reserve officials for their market trading but clears them of illegal activity. The trades by former regional presidents Robert Kaplan and Eric Rosengren came under scrutiny due to conflicts of interest when considering important policy matters during the early days of the Covid pandemic in 2020. The report accuses Rosengren of not disclosing trades and found discrepancies in his trading data. Kaplan was also faulted for lack of disclosure, and both have not commented on the report. The controversy led to a revamping of the Fed’s trading rules to avoid any conflict of interest.



Read more: Watchdog critical of former Fed officials in stock trading controversy