Adriana Kugler testifies before a Senate Banking Committee hearing on her nomination to be a member of the Federal Reserve Board of Governors, on Capitol Hill in Washington, U.S., June 21, 2023.
Jonathan Ernst | Reuters
Former Federal Reserve Board Gov. Adriana Kugler broke the central bank’s rules regarding stock trading, according to a report released Saturday by the U.S. Government Ethics Office.
The report comes three months after Kugler abruptly, and mysteriously, resigned from the Fed’s Board of Governors. Kugler had joined the Fed in September 2023.
A financial disclosure report that Kugler filed on Sept. 11, which contains details of securities transactions, notes that on Oct. 10, Ethics Office officials declined to certify the report.
A note on the disclosure from an Ethics official says that “matters related to this disclosure were referred earlier this year” by the office to the independent Office of Inspector General for the Board of Governors of the Federal Reserve System.
An inspector general is an internal ethics watchdog for federal departments and agencies.
This is breaking news. Please refresh for updates.