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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Trump is Expected to Move Quickly on Regulatory Rollback
[Photo: by Gage Skidmore / Wikimedia Commons]
President-elect Donald Trump is expected to launch swiftly his administration’s deregulatory agenda, affecting rules governing everything from investment advice to mortgage insurance and power-plant emissions.
First up may be an order to federal agencies to temporarily cease ongoing rule-making initiatives - mirroring steps taken by previous presidents entering the White House as one from the opposing political party leaves.
Next, the new president might issue directives for federal agencies to delay the start of some key Obama administration priorities that don’t go into effect until later this year – e.g., DOL’s new fiduciary rules set to take effect in April. The Trump administration is considering a 6-month delay for this rule, which could give Congress time to revoke the regulation with legislation.
Mr. Trump is likely to make an official statement announcing his intent to repeal climate-change rules that were a top second-term priority for President Barack Obama - though it would take time to roll them back.
Other Attempted Reversals.
- Delay planned cuts to the Federal Housing Administration’s annual mortgage insurance premiums.
- A broad regulatory moratorium to block late actions by regulators during the Obama administration that haven’t yet been published in the Federal Register.
- Target a handful of energy and environmental regulations, though the new president won’t be able to freeze most of them on his first day in office.
- Scrap Mr. Obama’s signature climate rule, an EPA cutting power-plant carbon emissions, and another EPA rule putting more bodies of water under federal jurisdiction.
- Repeal 2 Interior Department rules that the agency has completed since mid-November, including one setting new standards limiting the amount of methane, a potent greenhouse gas, that oil and natural-gas wells on federal lands can emit, and another one requiring tougher standards for coal mining near streams.
That said, his promise to eliminate regulations on U.S. businesses will likely take years to fulfill, given the complex steps involved in reversing them and political and legal challenges from Democratic lawmakers and state attorneys general.