Newly released ethics filings indicate that former Federal Reserve Governor Adriana Kugler engaged in at least a dozen stock trades in 2024 that potentially violated the Fed's tightened ethics rules. The trades involved companies such as Cava Group, Southwest Airlines, Apple, and Caterpillar, and were executed around the time of Federal Open Market Committee (FOMC) meetings. Fed ethics officers did not certify Kugler's compliance and have referred the case to the Office of Inspector General. Kugler resigned on August 1, 2024, and did not attend the July FOMC meeting. Additionally, the filings reveal she received over $41,000 in pro bono legal services.