On February 19, 2025, President Donald Trump signed an executive order (the “Order”) mandating that independent agencies, including the SEC, the FCC, and the FTC, submit proposed regulations for presidential review before finalization. The order marks a significant shift in the regulatory process, altering the long-standing autonomy of these agencies by subjecting them to executive oversight.

The Order asserts that independent agencies should not be exempt from executive supervision, citing Article II of the U.S. Constitution. According to the related White House fact sheet, the Order seeks to align the regulatory activities of independent agencies with the Trump administration’s priorities, and ensure consistency across the executive branch. While the Order applies broadly to independent agencies, it explicitly exempts the Federal Reserve’s monetary policy functions.

Some key provisions of the Order include:

Putting It Into Practice: The Order is part of a broader effort by the Trump administration to increase control over independent federal agencies. The Order argues that “Article II of the U.S. Constitution vests all executive power in the president, meaning that all executive branch officials and employees are subject to his supervision.” The Order is likely to be challenged as it marks a dramatic shift from the current administrative regulatory framework.

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