PROGRESS REPORT: A Look At These Charts May Convince You That Regulators Don't Even Want To Implement Dodd Frank

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Wall Street Reform (Dodd-Frank) was passed almost two years ago- on July 21st, 2010. The law, particularly the Volcker rule, has come back into the spotlight in the aftermath of the JP Morgan fiasco.

If it doesn’t seem like the law has been very effective, it might have something to do with the fact that only 27.6 per cent of the required rules have been finalised, and 67% of rule making deadlines have been missed. 

Leading law firm Davis Polk is out with their monthly progress report on regulator’s progress on implementing law. Take a look to see what’s been accomplished, and how the various agencies assigned to make these rules have performed. 

Regulators have missed two thirds of their deadlines, and a third of required rules have not even been proposed yet..

There's been little progress over the past month, two regulations were finalised.

The SEC and Bank Regulators have missed the most deadlines, more than half of those assigned in the SEC's case.

The Commodity Futures Trading Commission (CFTC) has done much better, finalising the majority of their assigned Title VII rules.

Regulators have missed 127 proposed deadlines, compared to 73 rules finalised on time.

Banking regulations, derivatives, and consumer protection have the most incomplete regulations..

Deadlines have sped by over the past three quarters.

Some 116 rules don't have statutory deadlines, so everything is up to the rule makers.

Study deadlines have been met with more success than those for rules, with a significant majority met in all but one quarter.

Twelve more studies are due by the end of the third quarter of this fiscal year, and eight are set for next year.

Some 3721 tasks have already been set to swap dealers and participants, set to increase as the process moves towards implementation.

Regulators have had at least 2800 meetings with outside participants in the process since the law's passage, primarily with the CFTC and SEC.

And if that's not enough bad news for you...

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