Sec. 5. Federal Reserve ethics
124 words·~1 min read·
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Section 4 of the Federal Reserve Act, as amended by section 4(b) of this Act, is amended by adding at the end the following: Each director, president, and vice president shall comply with the same rules for investment and trading activity prescribed by the Board of Governors of the Federal Reserve System. Each director shall disclose any financial interest in the same manner as presidents. Each Federal reserve bank shall publicly disclose and explain any rationale for waivers granted to directors from conflict of interest rules.
The Comptroller General of the United States shall annually review conflict of interest rules of the Federal reserve banks and the Board of Governors of the Federal Reserve System and implementation of and compliance with such rules. .