
Dan Brecher
Counsel
212-286-0747 dbrecher@sh-law.comCounsel
212-286-0747 dbrecher@sh-law.comDodd-Frank was passed in 2010 in response to the 2008 financial crisis. The Act requires numerous regulatory agencies, including the Securities Exchange Commission (SEC), Commodities Futures Trading Commission (CFTC) and others, to create rules that will have the effect of revamping the U.S. financial system and impacting all federal regulatory agencies and the majority of the country’s financial services industry. Due to the all-inclusive nature of this legislation, only half of the rules required by the law have been completed.
It has been reported that of the 398 rules mandated by the Dodd-Frank Act, only 206 finalized rules have been completed. The law has been a source of contention and rulemakers have met with opposition from well-funded industry leaders and lobbyists. Not to mention, the Act requires multiple federal agencies with sometimes conflicting views to steer the legislation into final rules.
One of the accomplishments under the law is the “Volcker rule,” which restricts securities trading by U.S. banks. Additionally, the CFTC has completed a large portion of the rules reshaping the market for the complex financial instruments known as swaps.
Unfortunately, the SEC’s regulations covering swaps markets tied to loans and other securities remains incomplete. According to the SEC, the “Act contains more than 90 provisions that require SEC rulemaking, and dozens of other provisions that give the SEC discretionary rulemaking authority. Of the mandatory rulemaking provisions, the SEC has proposed or adopted rules for more than three-quarters.”
Agencies and regulators are continuing to work to meet their Dodd-Frank obligations, so it will be interesting to see what progress is made in this next year.
If you have any questions about the Dodd-Frank Act or would like to discuss other corporate, securities and investment banking matters, please contact me, Dan Brecher, or the Scarinci Hollenbeck attorney with whom you work.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Breach of contract disputes are the most common type of business litigation. Therefore, nearly all New York and New Jersey businesses will likely have to deal with a contract dispute at least once. Understanding when to file a breach of contract lawsuit and how long you have to sue for breach of contract is essential […]
Author: Brittany P. Tarabour
Closing your business can be a difficult and challenging task. For corporations, the process includes formal approval of the dissolution, winding up operations, resolving tax liabilities, and filing all required paperwork. Whether you need to understand how to dissolve a corporation in New York or New Jersey, it’s imperative to take all of the proper […]
Author: Christopher D. Warren
Commercial leases can take a variety of forms, which is often confusing for both landlords and tenants. Understanding the different types, especially the gross lease structure, is important when selecting the lease that best suits your needs. One key distinction between lease types is how rent is calculated and paid. This article addresses the two […]
Author: Robert L. Baker, Jr.
Over the past year, brick-and-mortar stores have closed their doors at a record pace. Fluctuating consumer preferences, the rise of online shopping platforms, and ongoing economic uncertainty continue to put pressure on the retail industry. When a retailer seeks bankruptcy protection, a myriad of other businesses are often impacted. Whether you are a supplier, customer, […]
Author: Brian D. Spector
Since his inauguration two months ago, Donald Trump’s administration and the Congress it controls have indicated important upcoming policy changes. These changes will impact financial services policies and priorities. The changes will particularly affect cryptocurrency, as well as banking rules and regulations. Key Regulatory Changes in Cryptocurrency For example, in the burgeoning cryptocurrency business environment, […]
Author: Dan Brecher
The retail sector has experienced a wave of bankruptcy filings over the last year. Brick-and-mortar businesses in financial distress include big-name brands like Big Lots, Party City, The Container Store, and Vitamin Shoppe. When large retailers seek bankruptcy protection, they are not the only businesses impacted. Landlords can be particularly hard hit. While commercial landlords […]
Author: Brian D. Spector
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!