I document that a) banker directors of the New York Fed attend more meetings about the financial sector; b) elections for Reserve Bank directorships are more contested for bankers, but less so for large banks and American Banking Association directors; c) the market reaction to bankers’ elections to Reserve Bank boards is 1%; d) the market reaction to insider purchases is 1.3% higher when banker directors are on a Reserve Bank board; e) Fed enforcement actions appear more moderate for banker directors. Reserve Bank directorships appear to be good news for some banks.
The chapter provides an overview on EU Insider Law. It includes comparative remarks on US and explores insider law under the EU Markets in Crypto Assets...