President Donald Trump’s administration has pledged to roll back regulations on business, but the White House’s slow progress in nominating people to fill key bureaucratic roles appears to have hampered those efforts for the foreseeable future.
Specifically, the Securities and Exchange Commission only has three of five seats filled, the National Labor Relations Board has only three of five, the Federal Communications Commission has three of five, the Commodity Futures Trading Commission has two of five, and the Federal Trade Commission has two of five, The Wall Street Journal highlighted.
Regarding the FTC, that means that two commissioners, Republican Maureen Ohlhausen and Democrat Terrell McSweeny, must agree on just about any major piece of business before the commission can act, the WSJ said. So, for example, when DirecTV recently reached a tentative settlement with FTC lawyers and presented it to a judge, McSweeny wielded an effective veto and told the judge she was not on board and therefore there could be no agreement, the report explained.
These issues have been building for some time. The CFTC’s acting chair has been pushing to undo certain aspects of the Dodd-Frank Act, and at the beginning of April, Bloomberg reported that the Trump administration’s failure to nominate people to fill roles on the commission was dragging out that process.
Read more at the Denver Business Journal: http://bit.ly/2sxgCme
Copyright 2017 Denver Business Journal