President Trump signed this
Executive Order today identifying a series of core principles to govern financial system regulation, including more rigorous regulatory impact analysis; efficient, effective and appropriately tailored regulation; and restoration of public accountability within Federal financial regulatory agencies.
House Financial Services Committee Chair Hensarling (R-TX)
remarked that he was "very pleased that President Trump signed this executive action, which closely mirrors provisions that are found in the Financial CHOICE Act to end Wall Street bailouts, end ‘too big to fail,’ and end top-down regulations that make it harder for our economy to grow and for hardworking Americans to achieve financial independence."
And Oversight and Investigations Subcommittee Chair Ann Wagner (R-MO) made these comments:
I applaud President Trump for signing this executive order to comprehensively review our financial system’s regulatory framework and identify rules and regulations that are impeding economic growth and opportunities for consumers, investors, and entrepreneurs. President Trump’s order is consistent with our vision in Congress to end the ‘Washington-knows-best’ mentality, as we move forward with the Financial CHOICE Act to kick-start our economy and provide hardworking Americans with clear opportunities for a successful future.
The Order directs the Treasury Secretary to consult with Financial Stability Oversight Council agency heads (including the SEC) and report back within 120 days, and periodically thereafter, on the extent to which existing regulations, guidance and policies promote or are inconsistent with the principles, and actions underway to promote and support the principles.
See also this memo from
Covington, and these articles from the WSJ:
here and
here,
The Hill, the
LA Times, Bloomberg:
here and
here, and the
Financial Times.