Trump Issues Immediate Regulatory Freeze Exec Order

[DHK]

In first executive order, Trump tells agencies to ease ObamaCare burden | Fox News

Priebus' memo says that agencies shouldn't submit any regulations to be published in the Federal Register unless a Trump-selected agency head approves it. That appears to mean that some regulations that had been approved by Obama's administration would be halted. It also freezes any regulations that are already in the pipeline to be published and allows time for other pending regulations to be reviewed by Trump's administration.

The memo is similar to one that Obama's chief of staff issued the day Obama was inaugurated in 2009.

Only time will tell whether this is going to impact the DOL ruling, but I hope so!

 

[scagnt83]

This was only for actions relating to Obamacare from what I understand. So it should not have any impact on the DOL ruling.

 

[Embraerjetpilot]

Business with no rules and ethics is to come.

 

[goillini52]

This was only for actions relating to Obamacare from what I understand. So it should not have any impact on the DOL ruling.

Did you miss this >>>"The memo is similar to one that Obama's chief of staff issued the day Obama was inaugurated in 2009."

I believe it halts everything O'bama has inthe works that Trump can stop with the stroke of a pen.

 

[DHK]

Business with no rules and ethics is to come.

Yeah... because 50 state insurance regulators with the power to arrest agents and others for screwing people and insurance companies over implies there are no rules, ethics, arbitration, or court.



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http://www.thinkadvisor.com/2017/01/19/sen-warren-questions-firms-on-their-dol-fiduciary?page_all=1

Warren told the financial services firms that she’d like answers to six questions about the rule by Jan. 31, specifically, how much money they’ve spent on compliance, what steps they’ve taken to implement the rule, and if they plan to return more products to a commission-based model.


I see it now: "You've already spent SO MUCH on compliance that it's impractical to go back now!"

Said Roper: “It comes down to this: Are they financial advisors or are they just salespeople? Put another way, are they lying to the court, or are they lying to their customers? The answer to that question has multibillion-dollar implications for millions of American workers and retirees who turn to financial professionals for help with their retirement investments. After all, people expect salespeople to look out for their own interests and maximize profits, but advisors are expected to meet a higher standard.”

And sure, I understand this and I share it (generally)... but the BICE requiring a financial institution to sign off is what's killing it for fixed indexed annuities and IMOs.

 

[xrac]

This was only for actions relating to Obamacare from what I understand. So it should not have any impact on the DOL ruling.

My understanding was all new regulations.

 

[Cornelius]

My understanding is also all regulations be looked at. I wonder if an adjustment will be made to do not call legislation at some point? No more need for fishing license?