The U.S. Treasury Department (“Treasury”) requested recommendations and information from the public to identify Treasury regulations that can be “eliminated, modified, or streamlined in order to reduce burdens.”
The request was issued in response to Executive Order 13777 (“Enforcing the Regulatory Reform Agenda”), which requires regulatory agencies to form task forces that help to implement previous orders focused on regulatory reform. The Treasury asked that submissions (i) identify regulations by titles and citations to the Code of Federal Regulations, and (ii) explain how the regulations could be modified, if appropriate, or why they should be eliminated.
Comments must be submitted by July 31, 2017.
Lofchie Comment: The Treasury’s request for public input follows immediately on the heels of their real-world critique of problems with the current regulatory system (see Treasury Gets Specific, Recommends Significant Regulatory Reform). Market participants should take up the Treasury on this request for comment. The new regulators appear to be concerned with real, practical problems, such as duplicate or ambiguous regulatory requirements, regulatory costs, diminished liquidity and market fragmentation.