Changes Afoot? -

President Trump has issued a number of orders that have as their aim reducing regulatory burdens. For example, there is the January 30, 2017 “two for one” order, which contemplates that, for each new rule issued by an executive department or agency, two regulations would need to be identified for elimination.

Subsequent guidance issued on February 2, 2017 clarified that independent agencies, such as the U.S. Securities and Exchange Commission (the “SEC”) are not covered by the order. In addition, the original order does not cover “self-regulatory organizations,” such as FINRA.