On February 3, 2017, President Trump signed an executive order setting forth "core principles" in the regulation of the US financial system and directing the Treasury Secretary to review and report back to the President within 120 days on the extent to which current government policies promote those principles and recommendations for actions to promote them. The core principles include the following: "prevent taxpayer-funded bailouts"; "foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as moral hazard and information asymmetry"; "enable American companies to be competitive with foreign firms in domestic and foreign markets"; "advance American interests in international financial regulatory negotiations and meetings"; and "restore public accountability within Federal financial regulatory agencies and rationalize the Federal financial regulatory framework."
The Shearman & Sterling publication on the Trump executive order is available at: http://www.shearman.com/en/newsinsights/publications/2017/02/guide-to-trump-order-on-financial-reg-reform; and the text of the executive order is available at: https://www.whitehouse.gov/the-press-office/2017/02/03/presidential-executive-order-core-principlesregulating- united-states.
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