President Donald Trump’s executive order on
financial regulation has been interpreted by many as a signal
that the administration intends to repeal key areas of the
Dodd-Frank Act. But its intentions and political context are
more complex than that.
IFLR gathered the views of some of the leading financial
services regulatory advisors following the February 3 order.
And while it is clear that aspects of Dodd-Frank are vulnerable
to repeal, there are clues leading to other priorities too.
The end of harmonisation?
Section 1(e) of the order promises to 'advance American
interests in international financial regulatory
negotiations’. For those hoping to protect the
decades-long trend of global regulatory harmonisation, this is
In some respects, section 1(e) is unsurprising. In a January
31 letter to the Federal Reserve System, congressman Patrick
McHenry, vice-chairman of the Financial Services Committee
urged the Fed to end talks over international agreements