Dodd-Frank Wall Street Reform and Consumer Protection Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
News & Analysis as of

Financial Services Weekly News Roundup - January 2015 #4

The CFTC Exercises Expanded Jurisdiction Over Retail Transactions in Physical Commodities. Title VII of the Dodd-Frank Act of 2010 amended the Commodity Exchange Act (CEA) to add new authority over certain leveraged,...more

Newly Passed Bill May Impact Dodd-Frank Act

The House of Representatives passed legislation that could loosen some of the restrictions imposed by Dodd-Frank on big banks. The bill, Promoting Job Creation and Reducing Small Businesses Burden Act, passed by a margin of...more

End-Users Are Dodd-Frank Collateral Damage According To CFTC Commissioner

CFTC Commissioner J. Christopher Giancarlo recently delivered remarks where he stated “Unfortunately, caught up in some of the collateral damage surrounding the Dodd-Frank reforms were the traditional commodity and energy...more

The Advisor as Fiduciary - 2015, Vol. 2

This is my favorite topic. If you read my last post, you understand why I believe that acting in the spirit of "fiduciary" sets every advisory firm up for success, compliance and otherwise. One of the few remaining items in...more

Private Equity: SEC Custody Rule—One Size Does Not Fit All

As a result of the Dodd-Frank Act, since 2012 investment advisers that operate pooled investment vehicles such as hedge funds and private equity funds with $150 million of assets under management became subject to the...more

The Risk Retention Rules: A Victory for Securitizations Involving Residential Mortgage-Backed Securities?

When Congress passed the Dodd-Frank Act, it mandated the creation of risk retention rules in an effort to align the incentives of sponsors of asset-backed securities (ABS) with the interests of investors and to improve the...more

Diversity Reports at Two Federal Agencies Offer Glimpse of Regulatory Review under Impending Dodd-Frank Diversity Standards

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), signed by President Obama in 2010 in response to the financial crisis, includes a provision intended to remedy racial and gender discrepancies at...more

Update on state AGs/regulator lawsuits using Dodd-Frank authority

Below is an update on the lawsuits we have been following that state attorneys general and a state regulator have brought using their Dodd-Frank enforcement authority. Under Dodd-Frank Section 1042, a state AG or regulator is...more

"Lawmakers and Regulators Continue Focus on Strategies for Resolving SIFIs"

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 contains two sets of provisions for managing the insolvency of financial institutions. First, the legislation creates an Orderly Liquidation Authority...more

"Reconciling Regulatory Requirements in Cross-Border Derivatives Takes Center Stage"

As the Commodity Futures Trading Commission (CFTC) completes the derivatives regulations mandated by the Dodd-Frank Act, the European Union continues to develop its own derivatives rules. Both sets of regulations seek to...more

The Financial Report - Volume 4, No. 2 • January 2015 (Global)

Discussion and Analysis - Last week, several of the world’s largest banks and brokerage firms lost hundreds of millions of dollars when the Swiss franc surged suddenly and surprisingly against the euro. It is eerily...more

Dodd-Frank Act Changes Are Coming

For over four years after enactment of the Dodd-Frank Act (“Dodd-Frank”), President Obama and the Democratic Senate successfully blocked any changes to that act. For example, in the 113th Congress, the House passed 26 bills...more

The SEC’s Telling Enforcement Shift

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 made numerous, and significant, changes to the Securities and Exchange Commission’s regulatory powers particularly with respect to regulated professionals...more

2015 Trends: #8 Top Whistleblowing Priorities for Compliance Professionals

Last November, the U.S. Securities and Exchange Commission issued its Annual Report to Congress on the Dodd-Frank Whistleblower Program. It is clear that the program is going strong. Following are five key ways compliance...more

Bank Regulators Release Public Sections of “Living Wills”

On January 15, the Federal Reserve and the FDIC issued a joint press release making available the public sections of resolution plans of firms with less than $100 billion in qualifying nonbank assets. The Dodd-Frank Act...more

House Financial Services Committee approves oversight plan; Committee chair gets new subpoena authority

The House Financial Services Committee voted unanimously today to approve the Committee’s oversight plan for the 114th Congress. The plan provides that the Committee intends to continue its close examination of the...more

First Salvo by New Congress To Roll Back Dodd-Frank

The House of Representatives recently passed, by a vote of 271-154, legislation that includes a delay in the implementation of the Volcker Rule until 2019. The proposed change would add two years to the maximum extension...more

New House Bill Aims to Reduce Some Dodd-Frank Regulatory Burdens

On January 24, 2015, the U.S. House of Representatives passed a bill that loosens certain Dodd-Frank requirements and reduces the scope of the SEC’s regulatory authority over certain private equity firms, small businesses,...more

State Enforcement of the Consumer Financial Protection Act: State Lawsuits Offer a Sign of What’s to Come

At the end of 2014, the New York Department of Financial Services (“DFS”) became the first state regulator to settle a case using its authority to enforce the federal Consumer Financial Protection Act (“CFPA”). In Benjamin M....more

House Bill Seeks to Limit Certain Provisions of Dodd-Frank

On Jan. 14, 2015, the effort to repeal or amend certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) continued in the heavily Republican House of Representatives with the...more

House Takes Action to Delay Volcker Rule

On Wednesday, the House passed a bill that would further delay the full implementation of the Volcker Rule – a highly controversial rule introduced under the Dodd-Frank Wall Street Reform and Consumer Protection Act that...more

SEC Adopts New Rules for Security-Based Swap Market

On January 14, the SEC adopted new rules that will require security-based swap data repositories (SDRs) to register with the SEC and prescribe reporting and public dissemination requirements for security-based swap...more

2014 Top 10 SEC Enforcement Highlights

Mary Jo White was confirmed in April 2013 as Chair of the Securities and Exchange Commission (the “SEC”), becoming the first former United States Attorney to serve in that role. Given her background, and despite criticism...more

Diversity reports at two federal agencies offer glimpse of regulatory review under impending Dodd-Frank diversity standards

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), signed by President Obama in 2010 in response to the financial crisis, includes a provision intended to remedy racial and gender discrepancies at...more

CFPB Proposes Regulating Nonbank Auto Finance Companies

On September 16, the Consumer Financial Protection Bureau (CFPB) issued and requested comment on a proposed rule that would, for the first time, subject nonbank auto finance companies to federal regulation and oversight. The...more

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