The "Dodd-Frank Wall Street Reform and Consumer Protection Act" is a historic piece of legislation that will impact a wide variety of our clients.
While many of the substantive changes included in the legislation will be left to regulatory agencies for implementation, and although the legislation mandates studies over the next several months and beyond by various regulatory agencies with regard to many areas covered by the act, Dodd-Frank will affect our clients' financing and business decisions immediately.
Several of our colleagues are preparing alerts on portions of the bill relating to their specific areas of practice. These alerts and other materials related to Dodd-Frank will be posted here as they are produced.
On July 27, the SEC announced that it will accept comments on the relevant provisions of the Dodd-Frank Act at this time, before the agency even proposes its regulatory reform rules and amendments. This new process is intended to provide expanded opportunity for public comment and greater transparency and accountability.