WASHINGTON U.S. President-elect Donald Trump may
roll back some Wall Street standards put into effect under
President Barack Obama without writing new law, an advocate for
easing such rules said on Tuesday.
Trump and the incoming, Republican Congress have the
authority to freeze elements of the Dodd-Frank Wall Street
reform under its authority, according to the Committee on
Capital Markets Regulation (CCMR), which has faulted some of
The advocacy group has been a critic of the Dodd-Frank
reforms created after the 2009 financial crisis and has said
those reforms crimp competition and markets.
Specifically, the Trump administration might target
exchanges that are used to clear swaps - investments regulated
by the Commodity Futures Trading Commission.
The CFTC began writing rules for swap clearing soon after
Dodd-Frank became law in 2010.
"Even for rules that have been finalized, there is room to
change things," said John Gulliver who heads research at the
In a paper released on Tuesday, the group argued that
federal agencies have wide latitude to undo reforms.
"Agencies may generally exercise discretion in how and when
they choose to enforce existing regulations, including
determining not to bring enforcement actions," the advocacy
group said in its research paper.