U.S. Treasury outlines sweeping blueprint for reforming capital markets

Reuters News
Posted: Oct 06, 2017 10:03 AM

WASHINGTON (Reuters) - The U.S. Treasury on Friday unveiled a blueprint for sweeping reforms of the U.S. capital markets as it looks to implement Republican President Donald Trump’s agenda to promote economic growth by slashing red tape.

The report recommends a raft of measures to encourage companies to seek public listings, to promote companies’ access to capital, and to give investors a wider array of investment opportunities, that could largely be implemented without legislative changes.

The Treasury also said the United States should put ‘America First’ as it engages in international regulatory forums, potentially putting Treasury on a collision course with overseas regulators due to convene in Washington D.C. for the International Monetary Fund meeting next week.

Friday’s report is the second of four expected from the Treasury as it completes a comprehensive rule of existing financial rules, as mandated by an executive order President Donald Trump signed in February. The first, released in June, proposed loosening rules imposed on the banking sector in the wake of the 2007-2009 global financial crisis.

(Reporting By Michelle Price in Washington; Editing by Nick Zieminski)