Tue, Oct 13, 2015
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. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From Marketrealist.com: In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  2. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Bloomberg.com: Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  3. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From Mondaq.com: The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  4. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  5. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Newsoftheweird.com: Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko