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.