White in Speech Outlines Priorities for Successor; Trump Order Puts Reins on New Regulation
In a recent speech, former SEC Chairwoman Mary Jo White looked to the future of the agency and possible priorities for the incoming leadership. She highlighted initiatives that she hoped would progress, including work on derivatives and security-based swaps under Title VII of the Dodd-Frank Act. White stated that disclosure effectiveness should continue to be a major focus for the SEC and noted the pending status of a measure that would provide for electronic delivery of shareholder reports. She pointed to other outstanding proposals, including the universal proxy and the executive compensation rules required by the Dodd-Frank Act. President Trump has repeatedly assailed Dodd-Frank and has stated that he plans to repeal large sections of the regulation. Trump also signed an executive order that requires government agencies to identify two existing regulations to be repealed for each new regulation proposed or promulgated. According to a Reuters report, the executive order would not apply to independent agencies such as the SEC or the CFTC. The executive order also requires that through 2017, the total incremental cost of all new regulations, including repealed regulations, be no greater than zero unless otherwise required by law or advised by the head of the Office of Management and Budget.