Trump’s proposed Dodd-Frank rollback unpicked

Author: Tom Young | Published: 13 Feb 2017

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 ominous.

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 until...