Financial Services Legislative And Regulatory Update -- February 11‚ 2013

In This Issue:

Leading the Past Week; Legislative Branch; Executive Branch; International; Miscellaneous; and Upcoming Hearings.

Excerpt Leading the Past Week -

With January officially in the record books, it is worth noting that as of February 1st, 279 Dodd- Frank rulemaking requirement deadlines have passed. Of the passed deadlines, 63 percent have been missed and 37 percent have been met with final rules. While the implementation continues to plod along, the heads of the regulatory agencies will be brought before the Senate Banking Committee this week, as the first hearing 113th Congress will focus on the FSOC and the implementation of Dodd-Frank. Last week, the House Financial Services Committee met for the first time, and although there were behind the scene efforts to increase the comity of the committee – with many of the members meeting for an impromptu dinner – it remains unclear if such efforts will be successful as less than an hour into the hearing Ranking Members Waters and Chairman Hensarling appeared to engage in a sharp exchange.

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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.

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