What CEOs still want from Trump: A deregulation wishlist
by Steven Nelson , John Siciliano , Sean Higgins and Joseph Lawler | Feb 6, 2018, 12:01 AM America's CEOs have a long wish list for the regulatory rollback President Trump has promised to continue in 2018.
After delivering what the White House said was $8.1 billion in lifetime savings from reduced regulation in fiscal 2017, a period that included a little more than half a year of his administration, Trump pledged another $9.8 billion in the 12 months through September.
Here's a look at what industries from finance to technology and energy want to see included:
Volcker rule: A top target for banks in 2018, the regulation included in the 2010 Dodd-Frank Act was named for the former Fed chairman, Paul Volcker, who proposed it. The regulation was designed to prevent banks from using deposits insured by the federal government to speculate in capital markets. The industry has argued that the rule, which took five agencies two years to write, harms banks’ ability to provide liquidity. The Trump administration has begun coordinating on ways to loosen the standard, an effort the Federal Reserve's new vice chair for bank supervision cited in a January speech.
Fiduciary rule: Brokers, financial advisers, and insurers are hoping that the Trump Labor Department will substantially rewrite an Obama rule that would require all brokers and financial advisers involved with tax-privileged retirement accounts like 401(k)s to provide advice that's in their clients’ best interests rather than merely "suitable."
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http://www.washingtonexaminer.com/what-ceos-still-want-from-trump-a-deregulation-wishlist/article/2647826
