US President Donald Trump has told a group of chief executives that he will be eliminating the Dodd-Frank regulations of Wall Street and replacing them with "something else".
Reuters reported that Trump met with Doug McMillon, chief executive of Walmart; Indra Nooyi, chief executive of Pepsi; Ginni Rometty, chief executive of IBM, and several others yesterday.
Speaking tonight, Trump said to executives: "We're going to reduce taxes, we're going to eliminate wasteful regulations.
"But we're doing a major elimination of the horrendous Dodd-Frank regulations, keeping some obviously, but getting rid of many."
The Dodd-Frank rules were established after to 2008 financial crash and Trump's promises to overhaul the regulations and cut taxes have contributed to a boom in the US stock market following the presidential election.