NEW YORK–(BUSINESS WIRE)–Davis Polk Wardwell LLP today released a report analyzing the
rulemaking and implementation progress of the Dodd-Frank Wall Street
Reform and Consumer Protection Act following its one-year anniversary.
The One-Year Anniversary Dodd-Frank Progress Report, which can be
accessed here,
contains a wide range of statistical data and graphical illustrations of
the Dodd-Frank rulemaking process and takes into account the scores of
rulemakings that had a July 21, 2011 deadline.
Among the key elements of the Progress Report:
-
An analysis of rulemaking progress, which shows that regulators have
completed 33, or 20%, of the 163 required rulemakings to date.
Overall, regulators have completed 13% of all rulemaking requirements
in Dodd-Frank. -
Rules fulfilling 13 rulemaking requirements were finalized in July and
104 rulemaking deadlines were missed – 76 on July 16, 2011 and 28 on
July 21, 2011. - A summary of study progress, which shows 7 missed studies to date.
-
A ranking of the most popular topics of discussion in the more than
1,700 meetings that have taken place between regulators and market
participants since Dodd-Frank’s enactment. -
A graphical representation of the GAO’s analysis of the $1.25 billion
cost to regulators for Dodd-Frank implementation over the next two
years. -
A breakdown, organized by affected groups within financial firms, of
the 1,081 specific tasks identified by Davis Polk from CFTC and SEC
releases that are applicable to swap dealers and major swap
participants.
The analysis in the Progress Report is largely derived from the Davis
Polk Regulatory Tracker, an online subscription service designed to help
market participants, particularly their in-house legal and compliance
departments, effectively navigate the Dodd-Frank Wall Street Reform and
Consumer Protection Act and the regulatory phase of financial reform.
About Davis Polk. Davis Polk Wardwell LLP is a global law firm.
For over 160 years, its lawyers have advised industry-leading companies
and global financial institutions on their most challenging legal and
business matters. Davis Polk ranks among the world’s preeminent law
firms across the entire range of its practice, which spans such areas as
capital markets, mergers and acquisitions, credit, litigation, private
equity, tax, financial regulation, investment management, insolvency and
restructuring, executive compensation, intellectual property, real
estate and trusts and estates. The firm has more than 750 lawyers in
offices in New York, Menlo Park, CA, Washington DC, London, Paris,
Madrid, Hong Kong, Beijing and Tokyo. Davis Polk operates in Hong Kong
as Davis Polk Wardwell, Hong Kong Solicitors, an affiliate of Davis
Polk Wardwell LLP. For more information: http://www.davispolk.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6803510lang=en
Article source: http://www.businesswire.com/news/home/20110722005478/en/Davis-Polk-Issues-One-Year-Anniversary-Dodd-Frank-Progress




