Financial Regulators Set Out To Get Their Man: Federally Mandated Bounties and Anti-Retaliation Provisions Designed to Regulate the Financial Services Industry

more+
less-

President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank" or the "Act") into law on July 21, 2010, with the objective of ushering in a new era of financial regulation and transparency. However, with more than 2,000 pages and amending approximately 20 statutes, parts of the Act are less than transparent. The Act's range is broad and encompasses not only the usual group of financial services employers, but it extends to mortgage brokers and insurance adjusters as well. Portions of the Act, including those discussed below, went into effect immediately. However, in contrast to its stated objective, portions of the Act have left more questions than answers as to what long-term impacts the legislation will have on the financial industry. A few of the Act's highlights are described below.

Please see full Alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Finance & Banking Updates, Insurance Updates, Labor & Employment Updates, Residential Real Estate Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Reed Smith | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »