The Dodd-Frank Wall Street Reform and Consumer Protection Act requires or authorizes various federal financial regulators to issue hundreds of rules to implement reforms intended to strengthen the financial services industry.
On May 25, 2011, by a three-to-two vote of its commissioners, the Securities and Exchange Commission (the “Commission”) adopted final rules implementing the whistleblower provisions of Section 21F of the Securities Exchange Act of 1934 (as amended, the “Exchange Act”).
The Federal Reserve Board has published an expected timeline for rulemaking activities in the first half of 2011.
This week, President Obama is expected to usher in a new era of financial regulation by signing landmark reform legislation into law.
After almost a year of discussions, debate and negotiations, financial regulatory reform has passed both the House and the Senate and is expected to be signed into law this week by President Obama.