Richmond Fed President Dzheffri Leker 4 April unexpectedly announced his resignation. Richmond Fed - is one of the 12 regional centers of the US Federal Reserve. Lacker headed it since August 2004 and was going to leave the post in October. He is known for his hawkish stance, repeatedly advocated a more rapid rise of the Fed rate. The new head of the Federal Reserve Bank of Richmond will be appointed by the Board of the Federal Reserve, while the duties are performed by the first vice-president Mark Mullinix.
Lacker has pleaded guilty in the leak of confidential information. According to US media reports, in October 2012, Lacker before the meeting the US Federal Reserve in an interview with an analyst Medley Global Advisors did not deny the assumption of future Fed policy. It was at that meeting was launched QE 3. The analyst shared the information with customers, even before the publication of the minutes of the relevant meeting.
It turned out that customers Medley Global Advisors learned Lacker position before she became known to a wide circle of investors. It is possible that malice in Lacker was not, but the incident falls under the law on insider information. In the US, this is very strict and is punishable up to criminal liability. A special investigation with the assistance of the US Federal Reserve and the Ministry of Justice FBI lasted for several years. Not to wash dirty linen in public, Lacker took the decision to resign. The current activities of the US Federal Reserve is unlikely to affect the event. However, the fact of leakage of information can be used Donald Tramp in the future, when the authority will expire Janet Yellen. Recall, this is going to happen in February 2018.
If we compare with Russia, we all quietly. The head of the Central Bank Elvira Nabiullina in March, received from Vladimir Putin's "credibility" - the president praised its role in the stabilization of the Russian economy and said it would offer the State Duma to extend its powers. Legislation on insider trading in Russia is quite soft. Prove manipulation / insider in court is difficult, and the punishment includes a heavy fines or a prohibition to hold certain positions.
According to the materials of Alpari
