Treasury releases report suggesting financial market reforms News
Treasury releases report suggesting financial market reforms

[JURIST] The US Department of Treasury released a report [text,PDF] Friday suggesting regulations and changes to current laws which affect the US Financial System.

This report is in response to President Donald Trump’s Executive Order 13772 [press release], which established “Core Principles” for the federal government to strive to within the financial market. The February 2017 order established a report to the president within 120 days of the release of the order as well as periodic reports. The goal is to “identify any laws, treaties, regulations, guidance, reporting and recordkeeping requirements, and other Government policies that inhibit Federal regulation of the United States financial system in a manner consistent with the Core Principles.”

The report laid out a number of issues and recommendations to follow to allow growth and a healthy US market. These recommendations include protecting the treasury market by closing data gaps, ensuring adequate and proper oversight, and modernizing regulatory agencies and making their regulatory processes more transparent. The treasury secretary stated [press release] in response to the report: “[t]he U.S. has experienced slow economic growth for far too long. In this report, we examined the capital markets system to identify regulations that are standing in the way of economic growth and capital formation. By streamlining the regulatory system, we can make the U.S. capital markets a true source of economic growth which will harness American ingenuity and allow small businesses to grow.”

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