Federal Reserve Bank of Richmond examiner pleads guilty to insider trading
By 
Aaron Nicodemus2024-11-20T18:15:00
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
Robert Thompson pled guilty in U.S. District Court for the Eastern District of Virginia to one count of insider trading and one count of making false statements, the Department of Justice (DOJ) announced in a press release Tuesday. He faces up to 20 years in prison.
Federal Reserve Bank examiners are privy to confidential information about the banks they oversee, including confidential supervisory information (CSI). From 2020-24, the DOJ said Thompson executed 69 trades on banks under Federal Reserve Bank supervision that netted him nearly $772,000 in personal profits using confidential information, including CSI.
Related articles
-
News BriefEx-Apple insider trading compliance head fined $1.1M for insider trading
A former Apple attorney who oversaw the company’s compliance with insider trading rules will pay a $1.1 million fine to settle insider trading charges levied by the Securities and Exchange Commission.
-
News BriefWestpac ordered to pay $1.2M in insider trading case
Westpac Banking Corp. was assessed a maximum fine of AUS$1.8 million (U.S. $1.2 million) to address charges levied by the Australian Securities and Investments Commission of insider trading related to an interest rate swap transaction.
-
News BriefCCO among 12 individuals charged in DOJ, SEC insider trading sweep
The Department of Justice and Securities and Exchange Commission announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an international payment processing company.
More from Regulatory Enforcement
-
ArticleGeorgia Tech to pay $875,000 for allegations brought by compliance officers
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
-
ArticleTractor Supply Company hit with $1.35M fine for alleged California privacy violations
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
-
Basic PageLuminUltra fined $685K by BIS for illegal shipment to Iran
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.