Two new executive orders issued by President Donald Trump’s administration stipulate that guidance documents will be absent any force or effect of the law – a determination prudential regulators decreed one year earlier. The directives also add an extra step to the civil investigative process for federal agencies.
The directives, aimed at improving policies on federal guidance documents and civil administrative enforcement and adjudication proceedings, shine a light on the legal quandary surrounding guidance, which Dodd Frank Update previously explored in-depth.
Learn more details about the directives and the uncertainties surrounding guidance.