Sens. Richard Shelby (R-Ala.) and Mike Crapo (R-Idaho) sent a letter on Nov. 30 to Securities and Exchange Commission Chair Mary Jo White, urging her to freeze any unfinished rules related to the Dodd-Frank Act until President-Elect Donald Trump takes office next year, Bloomberg News reported yesterday. “We ask that you delay further action until after the new president is sworn in," Shelby and Crapo said. “The new administration and Congress must have an opportunity to examine each agency’s regulatory agenda and its effect on the economy before additional rules are promulgated or finalized." The SEC has been trying to finalize measures related to how mutual funds monitor and manage derivatives, and regulations related to security-based swaps. The SEC is also working with other agencies to complete sweeping limits on Wall Street pay.
