Sun, May 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

American Bankers Association issues detailed analysis of financial regulatory reform bill

Thursday, July 15, 2010
Opalesque Industry Update - The American Bankers Association yesterday released a comprehensive analysis of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The exclusive study, prepared for ABA by Dechert LLP attorneys, is available at www.aba.com and www.dechert.com.

“This is a massive piece of legislation that will, for decades to come, redefine the delivery and regulation of financial services, as well as the resolution of systemically significant companies that find themselves in distress,” said Dechert partner Thomas P Vartanian, who leads the firm’s financial institutions team.

Vartanian, Robert H. Ledig, and David L. Ansell were the primary authors of the study with support from a group of Dechert attorneys from a variety of practice areas.

Vartanian’s sentiments were echoed by Edward L. Yingling, ABA president and chief executive officer, who noted that while the bill contains some key provisions that bankers supported, it also unnecessarily adds to the already crushing regulatory burden faced by traditional banks.

“The Dodd-Frank Wall Street Reform and Consumer Protection Act is unprecedented in scope and will usher in a new era of financial services regulation,” said Yingling. “Unfortunately, legislators took a ‘while-we’re-at-it’ approach during the bill’s journey, imposing unrelated new restrictions on traditional banks that were more victim than villain in the financial crisis.”

The analysis released today addresses the many areas of regulatory focus contained in the law. These include: systemic safety; orderly liquidation of large bank holding companies and non-bank financial companies; consumer protection; prudential supervisory enhancements; restrictions on proprietary trading and private equity/hedge fund investments; agency consolidation; derivatives and hedging activities; financial market utilities and payments, clearing, and settlement practices; mortgage reform; capital, liquidity, and risk retention; credit rating agencies; insurance industry oversight; and hedge fund advisors.

Dechert’s financial institutions practice advises leading companies in the financial services industry on a wide variety of sophisticated transactional and litigation matters, including mergers and acquisitions, private equity investments, securities offerings, proxy contests, bank regulatory issues, internal and government investigations, and securities class action litigation.

The Dodd-Frank conference report still has to be approved by the Senate, which is expected to happen this week, and be signed by the President before it becomes law.

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit

  2. Investing - Billionaire Wilbur Ross likes the look of Chinese bad loans, Hedge funds are still relevant in a diversified portfolio: 4 fundamental criteria for superior manager selection[more]

    Billionaire Wilbur Ross likes the look of Chinese bad loans From Bloomberg.com: U.S. billionaire Wilbur Ross said he’s considering investing in nonperforming loans in China, as Moody’s Investors Service said that the nation has the tools to prevent a financial crisis in the near term. I’

  3. Investing - Blackstone gives pricey Canadian energy and property thumbs down, One of the most concentrated hedge fund bets is getting crushed, Facebook is hedge funds' new tech darling,[more]

    Blackstone gives pricey Canadian energy and property thumbs down From Bloomberg.com: Canada’s energy assets are uneconomic and real-estate markets overvalued, making them less attractive for investment than in the U.S. and elsewhere, according to Tony James, president of Blackstone Group

  4. Study - Only 30% of institutional hedge fund portfolios beat the benchmark[more]

    Bailey McCann, Opalesque New York: A new study from CEM Benchmarking, an independent provider of cost and performance analysis for pension funds, shows that only 30 percent of institutional investors hedge fund portfolios beat the benchmark after fees. The study provides in depth analysis of real

  5. Opalesque Exclusive: $1bn hedge fund club grows to 668 managers, continues to dominate (Part One)[more]

    Komfie Manalo, Opalesque Asia: Despite an underwhelming 2015 and a slow start to 2016 in terms of performance, one group of managers that continues to dominate the assets of the hedge fund industry is the so called $1bn club – hedge fund managers with at least $1bn in assets under management (AU