Trump's DOGE Tells SEC To Go Easy On Wall Street To Boost Growth: Report
US President Donald Trump administration's drive to cut red tape has prompted the US markets regulator to ease rules for Wall Street, news agency Reuters said in a report. As part of the move, the so-called Department of Government Efficiency (DOGE), blank-check companies which are also known as Special Purpose Acquisition Companies (SPACs) and private investment funds may face fewer disclosure requirements, allowing them to operate with greater confidentiality.
Officials from the SEC's DOGE arm have recently begun meeting with staff to review and possibly ease regulations that some companies say are overly burdensome. The Reuters report pointed out that the discussions include revisiting rules introduced under former US president that tightened oversight of SPACs and increased data disclosure requirements for private investment advisers to help regulators track systemic risk.
'Under President Trump's leadership, Chairman [Paul] Atkins and the SEC will ensure that the United States remains the best and most secure place in the world to invest and do business."
A spokesperson for the SEC said: 'The SEC is working with DOGE to find cost efficiencies and ensure public funds are being used as effectively as possible."
About the Author
Shankhyaneel Sarkar
First Published:
July 01, 2025, 22:57 IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
40 minutes ago
- India Today
Stock market opening: Sensex, Nifty to rally over US-India trade deal?
Stock markets are expected to open higher on Wednesday, July 2, following comments from U.S. President Donald Trump suggesting that a trade deal between India and the United States could be remarks have brought fresh optimism to investors and raised hopes that India could avoid a hike in tariffs set to take effect to the positive sentiment, U.S. Treasury Secretary Scott Bessent also said that both countries are making progress toward an agreement that could help India sidestep sharp tariff increases. The potential deal is being closely watched ahead of Trump's July 9 deadline to impose higher Nifty futures, which are seen as an early indicator for Indian market openings, traded at 25,686.50 points at 8:24 am. This suggests that the Nifty 50 index could open higher than its previous closing level of 25, and the Sensex had remained mostly flat in the last two sessions, taking a pause after their recent upward run. However, the latest news from the U.S. has brought fresh hopes that markets may regain on the expected trend, VLA Ambala, Sebi Registered Research Analyst and Co-Founder of Stock Market Today, said that the upcoming trade agreement is likely to impact selected sectors more than the broader market. According to Ambala, sectors like agriculture, auto, gems and jewellery, textiles, electronics, pharmaceuticals, energy, renewable energy and electric vehicles, and handicrafts could see the biggest added that the Nifty index currently has support at 25,460, while 25,630 acts as the resistance level. A clear move beyond this range could trigger a further shift of 1% to 2%. She expects the index to find support in the 25,300 to 25,460 range and face resistance around 25,630 to 25,850 in the next trading broader Asian markets showed a mixed trend. The MSCI Asia ex-Japan index slipped by 0.2%, indicating some caution in the region. Investors remained watchful of global cues and upcoming economic the United States, stock markets showed mixed movement on Tuesday. Treasury yields went up as investors reviewed weak manufacturing and jobs data. At the same time, comments from U.S. Federal Reserve Chair Jerome Powell kept investors cautious. Powell said that the central bank would wait to see how tariffs impact inflation before deciding to cut interest The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch
Mint
43 minutes ago
- Mint
Rupee expected to track Asia forex lower on renewed Trump tariff worries
MUMBAI -The Indian rupee is expected to open lower on Wednesday, tracking declines in most other Asian currencies and equities amid renewed worries over U.S. President Donald Trump's tariffs. The 1-month non-deliverable forward indicated a open in the 85.62-85.64 range, versus 85.52 on Tuesday. The rupee has been largely range bound in recent sessions, holding between the key support zone at 85.90–86.00 and resistance near 85.30. "Both of these levels are difficult to break," a currency trader at a bank said. "You'll likely have to wait until July 9 for a decisive move, and that's when we could see a breakout either way." He added for now the risks are skewed toward a decline past 86 rather than a rally above 85.30. Trump ruled out extending the July 9 deadline for trade deals on Tuesday and said he remained doubtful about reaching a deal with Japan. Japanese shares dropped 1% and the yen weakened versus the dollar. The renewed trade worries put pressure on risk-sensitive currencies, while dampening appetite for riskier assets. Asian equities and currencies declined amid wariness over potential U.S. action after the deadline. The Korean won, the Malaysian ringgit and the Thai baht were all down by 0.3% and the offshore Chinese weakened past 7.1650 to the U.S. dollar. Meanwhile, in a development seen as mildly negative for the dollar, U.S. Federal Reserve Chair Jerome Powell said he did not rule out the possibility of cutting interest rates at the Fed's July 29–30 meeting, while reiterating that the central bank will wait for more economic data before deciding on rate cuts. Traders have slightly increased the odds of a cut at that gathering. Investors assess Trump's massive tax-and-spending bill, which was passed by the U.S. Senate and will return to the House for final approval. ** One-month non-deliverable rupee forward at 85.75; onshore one-month forward premium at 10.50 paise ** Brent crude futures up 0.1% at $67.2 per barrel ** Ten-year U.S. note yield at 4.25% ** As per NSDL data, foreign investors bought a net $97 million worth of Indian shares on June 30 ** NSDL data shows foreign investors bought a net $181.2 million worth of Indian bonds on June 30 This article was generated from an automated news agency feed without modifications to text.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
US, Indo-Pacific partners agree to strengthen maritime cooperation
The United States, Australia, India and Japan have agreed to expand their cooperation on maritime security in the Indo-Pacific and further collaborate on supplies of critical minerals and rare earths that are key components of high-tech production. The foreign ministers of the four countries, known as the "QUAD", met in Washington on Tuesday as the Trump administration seeks to expand US influence in the Indo-Pacific to compete with a rising China amid tensions with partners over trade and defense issues. In a joint meeting with his three colleagues, Secretary of State Marco Rubio said the QUAD must be a vehicle for action that goes beyond statements of intent and stressed that commerce and trade will be critical to ensuring the group's relevance in the future. To that end, the four announced in a statement the creation of a QUAD Critical Minerals Initiative that aims to strengthen economic security and collective resilience by collaborating on securing and diversifying critical mineral supply chains". The statement did not provide details of the initiative. We are deeply concerned about the abrupt constriction and future reliability of key supply chains, specifically for critical minerals, they said. This includes the use of non-market policies and practices for critical minerals, certain derivative products, and mineral processing technology. The statement did not mention China by name, but Chinese domination of the critical minerals supply chain has long been a concern of the US and others. The ministers expressed specific concern about rising tensions in the East and South China Seas, where Beijing has become increasingly assertive of maritime and territorial claims that are rejected by its smaller neighbours. We reiterate our strong opposition to any unilateral actions that seek to change the status quo by force or coercion, they said. We express our serious concerns regarding dangerous and provocative actions, including interference with offshore resource development, the repeated obstruction of the freedoms of navigation and overflight, and the dangerous maneuvers by military aircraft and coast guard and maritime militia vessels, especially the unsafe use of water cannons and ramming or blocking actions in the South China Sea. The ministers also condemned North Korea for continuing to launch ballistic missiles, expand its nuclear weapons program and engage in malicious cyberactivity. In a veiled reference to North Korean support for Russia in its war against Ukraine, they expressed deep concern about countries that are deepening military cooperation with North Korea, which directly undermines the global nonproliferation regime". (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
