The Securities and Exchange Commission has recently published a timetable setting forth a schedule for the release of reports, rule proposals and adoption of final rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”).
The Act was signed into law on July 2010 and requires applicable regulators, including the Securities Exchange Commission to a accomplish substantial rule making and to deliver reports to Congress on various topics. The Act consists of sixteen distinct Titles on a wide variety of topics. Once implemented by the required regulations, the Act will significantly alter the U.S. financial regulatory system.
The first set of rules is expected to be released as early as October 2010 and additional rules will continue to be released through July 2011. The table below outlines the schedule for reports and proposed and final rules that directly affect asset backed securities. The full schedule can be viewed at the SEC’s website.
Please click here to view table
Cadwalader has prepared a short summary of the Act and a series of memoranda focused on the Act’s application to specific industries, entities and transactions. To see these memoranda please see a Summary of the Titles of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Appendix A links to the various topic-focused memoranda) or visit our website at http://www.cadwalader.com/list_client_friend.php.