This week, the White House issued an executive order limiting the autonomy of independent agencies, including the SEC, by requiring them to submit draft regulations for presidential review.  The stated purpose of the Ensuring Accountability for All Agencies executive order is to ensure Presidential supervision and control of the entire executive branch. 

Below is a brief summary of the key provisions:

• Performance Metrics:
  1. Establish performance standards and management objectives for all independent federal agency heads.
  2. Requires periodic reporting to the President on their performance.
  3. Metrics will be used to assess the effectiveness and efficiency of agency operations.
• Consistency with the President’s Policies and Priorities:
  1. The OMB shall review the independent regulatory agencies’ obligations for consistency with the President’s policies and priorities; and 
  2. Adjust an agency’s appointments as necessary.
• Additional Consultation with the President:
  1. There shall be established a White House Liaison; and
  2. Each agency head shall create and submit an agency strategic plan.
• Interpretation of Law:
  1. The President and the Attorney General’s opinions on questions of law are controlling on all employees in the conduct of their official duties.  No employee of the executive branch acting in their official capacity may advance an interpretation of the law as the position of the United States that contravenes the President or the Attorney General’s opinion on a matter of law, including but not limited to the issuance of regulations, guidance, and positions advanced in litigation, unless authorized to do so by the President or in writing by the Attorney General. Encourages agencies to engage with stakeholders, including the public, to gather feedback and improve services.

Implementation:

• The Office of Management and Budget (OMB) is tasked with overseeing the implementation of the executive order.
• Agencies are required to submit implementation plans to the OMB within 90 days of the order’s issuance.
• The OMB will monitor progress and provide regular updates to the President.

https://www.whitehouse.gov/presidential-actions/2025/02/ensuring-accountability-for-all-agencieshttps://www.whitehouse.gov/fact-sheets/2025/02/fact-sheet-president-donald-j-trump-rein