We are pleased to share Hogan Lovells' summary of H.R.4173, the Dodd-Frank Wall Street
Reform and Consumer Protection Act ("the Act"). View the report.
The Act, which was passed by Congress last week, is scheduled to be
signed by President Obama on July 21.
The Act is the most far-reaching financial reform legislation
enacted since the 1930s. Although directed primarily at the
financial services industry, the Act will also have a major impact
on nearly all U.S. public companies, and any other company that
might have a systemic impact on the U.S. economy.
Our approach in this summary was to describe as many as possible of
the most significant changes – the Act is well over 2,300
pages. However, enactment of the Dodd-Frank Act later this week is
only the beginning. We will continue to monitor and report upon
developments, in particular as the required new councils and
agencies are formed, and as all of the agencies move forward with
the required rulemaking.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.