Core Principles for Regulating the United States Financial System
Signed February 3, 2017·Donald Trump·82 FR 9965
Source
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Plain-language summary
Establishes a set of "Core Principles" for regulating the United States financial system, including empowering Americans to make independent financial decisions, preventing taxpayer-funded bailouts, fostering economic growth through rigorous regulatory analysis, keeping American firms competitive internationally, advancing American interests in international financial negotiations, making regulation efficient and tailored, and restoring accountability within federal financial regulatory agencies. Directs the Secretary of the Treasury to consult with member agencies of the Financial Stability Oversight Council and report to the President within 120 days, and periodically afterward, on how existing laws, treaties, regulations, and government policies support or inhibit these Core Principles, and what actions are being taken to promote them. States it does not alter existing agency legal authority or Office of Management and Budget functions, applies only within existing law and available funding, and creates no enforceable legal rights.
Not written or reviewed by a person. Read the full order below for anything you intend to rely on.
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Claimed authority
By the power vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered
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Disposition
Revoked by: EO 14018, February 24, 2021
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The order, in full
Executive Order 13772 of February 3, 2017
Core Principles for Regulating the United States
Financial System
By the power vested in me as President by the
Constitution and the laws of the United States of
America, it is hereby ordered as follows:
Section 1. Policy. It shall be the policy of my
Administration to regulate the United States financial
system in a manner consistent with the following
principles of regulation, which shall be known as the
Core Principles:
(a) empower Americans to make independent financial
decisions and informed choices in the marketplace, save
for retirement, and build individual wealth;
(b) prevent taxpayer-funded bailouts;
(c) foster economic growth and vibrant financial
markets through more rigorous regulatory impact
analysis that addresses systemic risk and market
failures, such as moral hazard and information
asymmetry;
(d) enable American companies to be competitive
with foreign firms in domestic and foreign markets;
(e) advance American interests in international
financial regulatory negotiations and meetings;
(f) make regulation efficient, effective, and
appropriately tailored; and
(g) restore public accountability within Federal
financial regulatory agencies and rationalize the
Federal financial regulatory framework.
Sec. 2. Directive to the Secretary of the Treasury. The
Secretary of the Treasury shall consult with the heads
of the member agencies of the Financial Stability
Oversight Council and shall report to the President
within 120 days of the date of this order (and
periodically thereafter) on the extent to which
existing laws, treaties, regulations, guidance,
reporting and recordkeeping requirements, and other
Government policies promote the Core Principles and
what actions have been taken, and are currently being
taken, to promote and support the Core Principles. That
report, and all subsequent reports, shall identify any
laws, treaties, regulations, guidance, reporting and
recordkeeping requirements, and other Government
policies that inhibit Federal regulation of the United
States financial system in a manner consistent with the
Core Principles.
Sec. 3. General Provisions. (a) Nothing in this order
shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or
the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with
applicable law and subject to the availability of
appropriations.
(c) This order is not intended to, and does not,
create any right or benefit, substantive or procedural,
enforceable at law or in equity by any party against
the United States, its departments, agencies, or
entities, its officers, employees, or agents, or any
other person.
(Presidential Sig.)
THE WHITE HOUSE,
February 3, 2017.Reproduced from the Federal Register plain-text record, signed February 3, 2017. Typesetting artifacts are removed; no wording is changed.