Speed Reads

regulation repeal

Trump administration looks to roll back Dodd-Frank company regulations

The Treasury Department on Friday recommended the repeal of four sections of Dodd-Frank financial regulatory law, in an effort to create economic opportunity and growth.

Dodd-Frank regulations were established under the Obama administration in 2010 following the financial crisis. The Treasury Department argued in its Friday report that disclosures under Dodd-Frank levy an unnecessary burden on companies; one of the sections the department seeks to repeal is a regulation mandating that companies reveal annual CEO compensation along with median employee compensation.

The Treasury Department report also advises the repeal of provisions concerning oil and natural gas. A section mandating the due diligence disclosure of "conflict minerals," including diamonds from the Democratic Republic of the Congo and other African countries, may also be repealed, as the department argues such disclosures are not "material to the reasonable investor for making investment decisions."

Treasury Secretary Steven Mnuchin addressed the report Friday, saying: "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."