U.S. Treasury Report on Asset Management and Insurance Industry Regulation: Trump Executive Order Required Fundamental Reassessment of Existing Rules; Treasury Submits the Third of Four Reports Examining the Regulatory Framework for Asset Management and Insurance

Sullivan & Cromwell LLP - November 2, 2017
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On October 26, 2017, the U.S. Department of the Treasury issued a report recommending a number of comprehensive changes to the current regulatory system for the United States asset management and insurance industries. The report was issued pursuant to President Trump’s Executive Order 13772, released February 3, 2017, which established a set of “Core Principles” to guide the regulation of the U.S. financial system and is intended to “identify any laws, treaties, regulations, guidance, reporting and record keeping requirements, and other government policies that promote or inhibit federal regulation of the U.S. financial system in a manner consistent with the Core Principles.”  The report is the third of four reports required by the Executive Order.