SEC charges former Fed employee with insider trading

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The Securities and Exchange Commission (SEC) has filed a lawsuit against Robert Brian Thompson.

The relevant complaint, seen by FX News Group, was submitted at the Virginia Eastern District Court on November 8, 2024.

The SEC’s complaint alleges that, from at least October 2023 through January 2024 (the “Relevant Period”), Thompson, then a senior banking supervisor and examiner at the Federal Reserve Bank of Richmond, unlawfully traded in stocks and options of at least two banks that were under his supervisory purview based on inside information.
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fxnewsgroup.com

SEC charges former employee of Federal Reserve Bank of Richmond with insider trading

The Securities and Exchange Commission (SEC) has filed a lawsuit against Robert Brian Thompson.
fxnewsgroup.com fxnewsgroup.com

I'm just surprised that he's being prosecuted. He must have pissed off the wrong person...
 
... Robert Brian Thompson, has pleaded guilty to committing insider trading and lying about it to his employer. This case has caught the attention of many because of the high-profile position Thompson held and the serious crimes he committed while working in that role.
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Robert Brian Thompson’s actions have now caught up with him. He has pleaded guilty to two serious charges: one for insider trading and one for making false statements. Insider trading, which is the act of using confidential information to make money in the stock market, carries very severe penalties. Thompson could face up to 20 years in prison for this crime. On top of that, making false statements on official forms is also a serious offense, and Thompson could face an additional five years in prison for that charge.

Robert Brian Thompson’s sentencing is scheduled for March 19, 2025, where a federal judge will determine the final punishment. The judge will take into account the U.S. Sentencing Guidelines, which are a set of rules to help judges decide how long someone should be sentenced based on their crimes, and other factors that could affect his punishment.
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https://www.msn.com/en-us/money/mar...-and-lying-to-the-federal-reserve/ar-AA1upT8X
 
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