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What Does Trump Mean for FinReg?

June 23, 2017 |

Will the Trump Administration dismantle Dodd-Frank? BBH's Sean Tuffy weighs in on the most likely scenario.


Since the inauguration of President Trump, there has been a lot of speculation that we're going to see a complete dismantling of Dodd-Frank. However, for a couple reasons, this is probably untrue. First, it's important to note that Dodd-Frank means different things to different people. It's an enormous, all-encompassing piece of regulation that contains thousands of rules, no one is seriously talking about repealing the entirety of Dodd-Frank. Instead what they're talking about is replacing components of Dodd-Frank, like the Volcker Rule. However, because Republicans don't have a simple majority in the US Senate, they will require the cooperation of the Democrats to make any substantial changes to Dodd-Frank and given the current political climate, that seems highly unlikely. So instead of seeing a dismantling of Dodd-Frank, what we're more likely to see is a change in regulatory priorities by the various agencies, such as the SEC and CFTC.

The positions expressed in this material are those of the author as of June 23, 2017, and may or may not be consistent with the views of Brown Brothers Harriman & Co. and its subsidiaries and affiliates (“BBH”), and are intended for informational purposes only. Furthermore, these positions are not intended to predict or guarantee the future performance of any currencies or markets. This material should not be construed as research or as investment, legal or tax advice, nor should it be considered information sufficient upon which to base an investment decision.