On Wednesday, July 21, 2010, U.S. President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"), the most dramatic revision of the U.S. financial regulatory framework since the Great Depression.
The Dodd-Frank Act covers a broad range of topics, including (among many others) a reorganization of federal financial regulators; a process designed to ensure financial systemic stability and the resolution of potentially insolvent financial firms; new rules for derivatives trading; the creation of a consumer financial protection watchdog; the registration and regulation of hedge and private equity funds; the regulation of credit rating agencies; and new federal requirements for residential mortgage loans.
The Dodd-Frank Act will have a very broad impact on the financial services industry and any related entities. To assist our clients in better understanding the impact of these laws, K&L Gates attorneys from Financial Services, Corporate and Policy and Regulatory Practice areas are issuing a series of alerts, each of which provides information on a substantive provision in the Act that may be interest to our clients.
To view the Financial Services Reform Alert series, please click here.
To view the text of the Dodd-Frank Act, Please click here.
To view the text of the House and Senate bills that were the base texts for the Dodd-Frank Act, please use the links below:
''Restoring American Financial Stability Act of 2010''