FRANKFURT (Reuters) – The European Central Bank has banned its top officials from picking stocks and bonds or making short-term trades after a string of scandals at the Federal Reserve and backlash at home.
Rate setters and bank supervisors at the ECB will no longer be allowed to invest in individual stocks or bonds but only in “broadly diversified” funds and will have to hold those investments from at least one year, from one month previously.
(Reporting By Francesco Canepa; Editing by Hugh Lawson)