A second Trump White House would seek to sharply reduce the power of U.S. financial regulators, according to a review of public documents and interviews with people allied with the former president.
Item 1 of 3 U.S. President Donald Trump cuts a red tape while speaking about deregulation at the White House in Wash ington, U.S., December 14, 2017. REUTERS/Kevin Lamarque/File PhotoU.S. President Donald Trump cuts a red tape while speaking about deregulation at the White House in Wash ington, U.S., December 14, 2017. REUTERS/Kevin Lamarque/File Photo WASH INGTON, April 12 -
But, the sources told Reuters, a constellation of experts and Trump allies are pitching regulatory rewrites, identifying potential staff and floating ideas on TV, in op-eds and directly to Trump at his Mar-a-Lago Club in Palm Beach, Florida. “As the academic literature has documented, ESG is too much in the eye of the beholder,” he told Reuters. “Therefore, it can and has been used to deviate from the fiduciary duty that money managers have to their clients, and it has distracted financial supervisors from the safety and soundness criteria that should be used in ensuring the ongoing strength of the U.S. financial system.
The Biden administration has pushed regulations to spur the use of electric vehicles and renewable energy sources, in addition to And bureaucratic changes such as expanding the definition of political appointees through Schedule F could have a major effect on financial regulators by removing job protections for many career professionals, compelling them to pursue the president’s preferences rather than their own independent judgment, he added.
RSBI:ESG-REGULATION RSBI:REGULATORY-OVERSIGHT RULES:TRUMP RULES:USA-ELECTION-MAJOR-STORIES RULES:USA-ELECTION-CANDIDATES INSGHT EREP ANLINS BISV BISV08 BNK BNKS BSVC ECO ESGREG FIN FINREG FINS FINS08 GEN MCE NEWS1 PLCY POL POTUS REGS VOTE WASH AMERS US NAMER ECON SUSTAINABLE-BUSINESS PACKAGE:US-POLITICS PACKAGE:US-TOP-NEWS
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