President Donald J. Trump signed an Executive Order mandating that each regulatory agency: (i) establish a Regulatory Reform Task Force ("Task Force") and (ii) designate an official as a Regulatory Reform Officer ("RRO") who will chair that agency's Task Force.
The Executive Order stated that, "[a]t a minimum," each Regulatory Reform Task Force shall attempt to identify regulations that, inter alia:
In addition, each agency head is required to prioritize the regulations that the agency's RRO identifies as being "outdated, unnecessary, or ineffective."
The Executive Order provided that each Task Force submit a report to the respective agency head within 90 days detailing the agency's progress towards "improving implementation of regulatory reform initiatives and policies" and "identifying regulations for repeal, replacement or modification."
In a letter to Federal Reserve Board Chair Janet Yellen, Financial Services Committee Chair Jeb Hensarling (R-TX) recommended that the Federal Reserve "should neither propose nor adopt any new rules until the U.S. Senate confirms a Vice Chairman for Supervision."
SEC Acting Chair Michael S. Piwowar focused on the "forgotten investor" in remarks delivered at the 2017 "SEC Speaks" Conference.
President Donald J. Trump signed (i) an Executive Order setting forth "Core Principles for Regulating the United States Financial System" and (ii) a memorandum regarding the Department of Labor’s fiduciary rulemaking.
President Donald J. Trump issued an Executive Order that (i) imposes a "total incremental cost allowance" on each executive agency, and (ii) requires two federal regulations to be rescinded for every new regulation implemented.
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