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The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”) was signed into law on Wednesday, July 21, 2010.
The Act covers almost every aspect of financial regulation, and analysis of its practical implications is in the relatively early stages. Implementation of the Act requires an extraordinary amount of rulemaking and regulators are given significant discretion. Thus, the practical impact of the Act are in many respects still to be determined. Bingham lawyers will continue to monitor developments on behalf of our clients as the process unfolds.
Our Summary of the Act, which is intended to outline the basic structure of the Act and to highlight selected provisions, can be downloaded below for your review. The Summary is broken into categories, with reference in each category to the relevant title(s) of the Act. Certain parts of the Act impact more than one category; in some of those cases (such as with the Volcker Rule), we have included summaries of the relevant provisions in more than one category.
As we continue to review and analyze the Act and its practical implications for the financial markets, we will be publishing specialized Alerts covering areas of interest and importance to our clients. We will also be updating this Summary from time to time.
Click to download our summary of the Dodd-Frank Wall Street Reform and Consumer Protection Act.