Fed Makes It Tougher for Former Officials to Work On Wall StreetBy
Regulator increases number of examiners under one-year ban
Policy also limits former officials from dealings with Fed
The Federal Reserve is slamming a wedge into the revolving door between government and Wall Street, by placing several restrictions on former officials who go to work for financial services firms.
An existing rule was revised to expand the number of Fed employees who are subject to a one-year ban on working for a company they’ve been overseeing, the agency said in a statement Friday. New measures will also prohibit examiners from representing any financial firm before the regulator for one year as well as restrict current Fed employees from talking about official matters with people who’ve left the agency within the last 12 months…
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