The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) was signed into US Federal Law in 2011. It is considered the most wide-ranging piece of financial regulation in the US since the Great Depression.

In its own words, the aims of the legislation are:
To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.

To take just two examples of the changes entailed by Dodd-Frank:

  • Now investment advisers with less than 15 clients still have to register with the SEC.
  • Certain non-bank financial institutions will be supervised by the Fed.

 

Ensuring compliance with Dodd-Frank continues to be a pressing issue for many firms. To learn more how the SteelEye platform can help, Book a Demo.