Commentary and musings on the complex, fascinating and peculiar world that is securities regulation
Friday, July 27, 2012
Obama Administration Asks for Public Comment in Aid of Federal Regulatory Reform
As part of its reform of the federal regulatory process, the Obama Administration has asked for public comment on which regulations are outdated, which ones are imposing unjustified costs, and which regulations can be improved or made more effective. In issuing the call for public comment, Cass Sunstein, Administrator of the White House Office of Information and Regulatory Affairs, noted that In January of 2011, the President issued an Executive Order directing all executive agencies to undertake an unprecedented government-wide review of regulations on the books, in order to figure out what is working and what is not, and where appropriate, to streamline or eliminate ineffective, overly burdensome, and outdated rules. Over two dozen agencies have responded with regulatory reform plans, listing more than 800 initiatives. In May of 2012, the President issued an Executive Order making regulatory reform a continuing responsibility of all federal executive agencies.