Ex-Fed Examiner to Pay Out Insider-Trading Gains in SEC Action

A former senior banking supervisor and examiner for the Federal Reserve Bank of Richmond agreed to pay over half a million dollars in earnings from trades on nonpublic information about Capital One Financial Corp. and New York Community Bancorp Inc., ending an SEC enforcement suit with a consent judgment.

Robert Brian Thompson violated prohibitions around bank securities trading, using information about the banks he supervised to strategically buy and sell shares through a personal brokerage account and generated $585,000 in unlawful profits, according to the SEC enforcement action.

Thompson reported no such conflicts of interest to his employer ...