Regulatory News

A memorandum from the Office of Information and Regulatory Affairs (OIRA) - responsible for approving, modifying or vetoing any clause drafted by regulatory agencies in the United States - provides regulatory authorities with a model to leverage regulatory relief measures. The idea is to guide the agencies to inform OIRA about trade-sensitive regulatory activities.

The memorandum was published because it was concluded that over-regulation hampers the country's companies. And also that foreign standards, combined with bureaucracy and protectionism, also result in unjustified expenses for companies.

The memorandum's guidelines indicate that rules for targeting the economy are necessary, but they cannot hurt the competitiveness of a country. And that linking the US regulatory relief program to international regulatory issues may be a means of increasing US access to the external market, and vice versa.

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