Investment firms to benefit from rule-stripping agenda

In the wake of President Donald Trump's assault on "the regulatory onslaught", HM Government is following his lead. Its efforts, though less drastic, are similarly built on a desire to boost national income by pruning red-tape burdens for businesses. Chris Hamblin reports on consultations in progress in the financial services space.

On 31 January the United States' President Trump signed an executive order to "unleash prosperity through deregulation". This order requires that whenever an agency promulgates a new rule, regulation, or guidance, it must identify at least ten existing rules, regulations, or guidance documents to be repealed. It also requires that for the fiscal year of 2025, the total incremental cost of all new regulations, including repealed regulations, be significantly less than zero, thereby "halting the regulatory onslaught". [1] In his first term, Trump had already commanded his agencies to eliminate two regulations for each new one.