Federal Reserve to Ban Top Officials From Buying Individual Stocks, Restricting Trading

Federal Reserve Chairman Jerome Powell testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington on Sept. 28, 2021. Kevin Dietsch/Pool via Reuters

The Federal Reserve on Thursday banned individual stock purchases by top officials who work at the central bank and placed limits on other activities.

The new rules come several weeks after reports of active trading by high-level Fed policymakers triggered calls for an ethics investigation.