On July 11, President Barack Obama signed an Executive Order directing “independent regulatory agencies”, including the Securities and Exchange Commission, Commodities Futures Trading Commission, Board of Governors of the Federal Reserve System, and several other federal agencies, to comply, to the extent permitted by law, with Executive Order 13563. Executive Order 13563, which the President signed on January 18, directed federal agencies, other than independent regulatory agencies, to engage in a cost-benefit analysis, with the participation of the public, of proposed and existing regulation and to develop means to better coordinate regulation across multiple agencies.