January 31, 2017

Trump: Cut 75% of All Federal Regulations! (But Not the SEC)

Heavens. I could launch a new blog just devoted to the topic of dramatically cutting the number of rules with the stroke of a pen. Here’s the intro from Cydney Posner’s blog about this:

The WSJ reports about yet another executive order that was signed today, this one designed to cut back on federal regulation. Under the executive order, federal agencies will need to eliminate two regulations for every new one created. The intent of the order, according to the new President, is to cut at least 75% of all federal regulations. In addition, according to the WSJ, the order “caps costs of new regulations for the remainder of the fiscal year and creates a budget process for new regulations in the next fiscal year, which begins in October. This budget, separate from the congressional appropriation process, will be set by the White House.”

It sounds great in theory. But implementing a regulatory reduction like this – forcing agencies to kill two rules for every new one – is bound to result in disaster. There needs to be some sort of sophisticated – & holistic – approach. Perform surgery with a scalpel. Or I guess you could just go at it with a meat cleaver. This Politico article says it would take years to accomplish, with costly court challenges along the way.

Anyway, thanks to Keith Bishop for pointing out that this executive order doesn’t apply to the SEC! After the order was issued, Reuters reported the following clarification:

The White House confirmed on Monday that a new executive order to slash regulations will not apply to independent regulatory agencies such as the Securities and Exchange Commission, a spokeswoman said.

Transcript: “Pat McGurn’s Forecast for 2017 Proxy Season”

We have posted the transcript for the webcast: “Pat McGurn’s Forecast for 2017 Proxy Season.”

Tomorrow’s Webcast: “The Art of Working With Proxy Advisors”

Tune in tomorrow for the webcast – “The Art of Working With Proxy Advisors” – to hear Strategic Governance Advisors’ Amy Bilbija, Davis Polk’s Ning Chiu, Teneo Governance’s Martha Carter and CamberView Partners’ Allie Rutherford analyze how to interact with proxy advisors to get the most out of your proxy season.

Broc Romanek