Econintersect: The Dodd-Frank Act is supposed to reform the way Wall Street works. It is supposed to correct abuses that led the world to the brink of disaster. After passage the intricate details to be implemented required the formation numerous study groups to make recommendations about how to proceed. Some of those studies are now reporting and the recommendations are not all that clear.Studies this week concern two of three of the major areas covered by the new law: (1) regulation of investment advisers, (2) the Volcker Rule and (3) determining systemic risk. All three areas will require new regulation rules and enforcers.
The SEC has issued two reports regarding investment advisors and the Financial Stability Oversight Council released a report on the Volcker Rule. More questions remain open than were answered by these reports.
Source: GEI Opinion
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