Joe Biden is no lock to win the presidency on Nov. 3. But it’s worth examining what compliance-related regulatory policies he’d support if he wins.
Through campaign documents and public statements, it’s clear that a government under former vice president Joe Biden may come out of the gates and target the Securities and Exchange Commission’s Regulation Best Interest rule (Reg BI), as well as a related fiduciary rule for retirement plans from the Department of Labor (DOL). If Biden wins, and the Democrats hold the House and take the Senate, the Congressional Review Act (CRA) could be used to nullify Trump administration regulations that were passed after June 1. (The Trump administration used the CRA to nullify 16 Obama regulations when it controlled Congress in 2017).
