Group of professionals discuss finance

Breaking news and expert analysis on legal and compliance issues

[Back To Home][Back To Archives]

From Banking and Finance Law Daily, February 24, 2017

New Executive Order calls for a ‘Regulatory Reform Task Force’ at each agency

By John M. Pachkowski, J.D.

With a number of corporate executives, from such companies as Johnson and Johnson, Dow Chemical Company, and Archer Daniels Midland Company, President Donald J. Trump signed an Executive Order "requiring every agency to establish a Regulatory Reform Task Force to eliminate red tape."

A White House release indicated that each Regulatory Reform Task Force will be:

  • evaluating existing regulations and identifying candidates for repeal or modification; and
  • focusing on eliminating costly and unnecessary regulations.

The release added, that to hold the Task Forces accountable, agencies will measure and report progress in achieving the President’s directives.

The latest Executive Order follows other executive action taken by the president to reduce regulatory burden.

In early February, the president signed an Executive Order that directed the Secretary of the Treasury to report back in 120 days on what rules promote or inhibit the administration’s priorities. That earlier Executive Order was part of a promise made by the president to "do a big number" on the Dodd-Frank Act despite the fact that the Order does not explicitly mention the Dodd-Frank Act (see Banking and Finance Law Daily, Feb. 3, 2017).

In remarks at the Executive Order’s signing, the president stated, "Every regulation should have to pass a simple test: Does it make life better or safer for American workers or consumers? If the answer is no, we will be getting rid of it and getting rid of it quickly. We will stop punishing companies for doing business in the United States. It’s going to be absolutely just the opposite. They’re going to be incentivized for doing business in the United States.

Companies: 3M Company; Altec, Inc.; Archer Daniels Midland Company; Campbell’s Soup Company; Dow Chemical Company; International Paper; Johnson and Johnson; Lockheed Martin; Merck; United States Steel Corporation; United Technology

MainStory: TopStory CFPB DoddFrankAct FinancialStability OversightInvestigations PrudentialRegulation Receiverships TrumpAdministrationNews UDAAP VolckerRule

Back to Top

Banking and Finance Law Daily

Introducing Wolters Kluwer Banking and Finance Law Daily — a daily reporting service created by attorneys, for attorneys — providing same-day coverage of breaking news, court decisions, legislation, and regulatory activity.

A complete daily report of the news that affects your world

  • View full summaries of federal and state court decisions.
  • Access full text of legislative and regulatory developments.
  • Customize your daily email by topic and/or jurisdiction.
  • Search archives for stories of interest.

Not just news — the right news

  • Get expert analysis written by subject matter specialists—created by attorneys for attorneys.
  • Track law firms and organizations in the headlines with our new “Who’s in the News” feature.
  • Promote your firm with our new reprint policy.

24/7 access for a 24/7 world

  • Forward information with special copyright permissions, encouraging collaboration between counsel and colleagues.
  • Save time with mobile apps for your BlackBerry, iPhone, iPad, Android, or Kindle.
  • Access all links from any mobile device without being prompted for user name and password.