Trump administration looks to roll back Dodd-Frank company regulations

Trump administration looks to roll back Dodd-Frank company regulations”

The first report in June dealt with banking regulations.

It also called for regulators to put US interests first when engaging in worldwide regulatory forums.

"By streamlining the regulatory system, we can make the USA capital markets a true source of economic growth which will harness American ingenuity and allow small businesses to grow", Treasury Secretary Steven T. Mnuchin, said in a statement.

"By streamlining the regulatory system, we can make the USA capital markets a true source of economic growth which will harness American ingenuity and allow small businesses to grow".

Since the crisis, the total amount of debt and equity primary offerings reported in private markets has exceeded that of public markets by about 26 percent, according to a staff report from the U.S. Securities and Exchange Commission cited in the Treasury report.

A Treasury Department report, released Friday, on USA stock, debt and derivatives markets is the second set of recommendations for a regulatory overhaul stemming from executive orders issued in February by President Donald Trump and following a June report on banking industry rules.

While the first report took aim at many major regulations required as part of the 2010 Dodd-Frank financial reform law, yesterday's report instead lays out a wide range of narrower, more technical tweaks aimed at boosting stock, bond, and derivatives markets.

"Efficient capital markets are at the core of a growing and prosperous economy".

The recommendations included streamlining disclosure requirements to reduce costs for companies. A section mandating the due diligence disclosure of "conflict minerals", including diamonds from the Democratic Republic and Congo and other African countries, may also be repealed, as the department argues such disclosures are not "material to the reasonable investor for making investment decisions".

While banks, brokers and small companies have cheered the report, numerous requirements are likely to draw criticism from public advocacy groups anxious they may reduce investor protections, and open the door for banks to pursue risky trading behavior once again.

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