Congress and the Trump Administration may be embarking on making far-reaching changes that would recalibrate the manner in which financial services are regulated in the United States, including amending the Dodd-Frank Act and its implementing rules. We expect to see vigorous debate regarding the appropriate approach to financial services regulation, leading to rewrites of the structures and goals of federal banking and securities agencies and other government agencies.
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The frequency of change in financial regulation and technology over the last decade has created a challenging business environment for banks, funds, investment managers and their investors. To assist our clients around the globe, we will evaluate the opportunities and challenges that this new regulatory environment creates, and will track and explain these developments on an ongoing basis on this new Financial Regulation Reform Tracker (Tracker) website. Our multidisciplinary team of lawyers that produces these analyses will include members from Dechert’s banking, investment management, derivatives, corporate, securities, finance/securitization, employee benefits, litigation and tax groups.
The Tracker will highlight key activity as it is announced and as it evolves into legislation in Congress or as new rules (or the elimination or modification of them) are promulgated by the regulatory agencies. It will succinctly describe the changes being proposed and then adopted, and will explore in a practical way the business opportunities and compliance (increased or reduced) obligations created by them. The Tracker will generate email notifications of developments to visitors who subscribe to receive them.
Rollback of Dodd-Frank
Actions (updated: Apr. 25, 2017)
Financial CHOICE Act of 2017
Actions (updated: Apr. 28, 2017)
Federal Banking Agencies
Federal Reserve Board (FRB) (updated: Apr. 6, 2017)
Office of the Comptroller of the Currency (OCC) (updated: Apr. 6, 2017)
Federal Deposit Insurance Corporation (FDIC) (updated: Apr. 6, 2017)
Other Government Agencies
Securities and Exchange Commission (SEC) (updated: Apr. 18, 2017)
Commodity Futures Trading Commission (CFTC) (updated: Apr. 6, 2017)
Consumer Financial Protection Bureau (CFPB) (updated: Mar. 31, 2017)
Financial Stability Oversight Council (FSOC) (updated: Apr. 25, 2017)
Federal Housing Finance Agency (FHFA)
Department of Labor (DOL) (updated: Apr. 17, 2017)
Internal Revenue Service (IRS) (updated: Mar. 29, 2017)
Department of the Treasury (updated: Apr. 25, 2017)
Legislation Generally Impacting Regulatory Agency Authority
Congressional Proposals (updated: Mar. 29, 2017)
Executive Actions Generally Impacting Regulatory Agency Authority
Executive Actions (updated: Feb. 27, 2017)