The Dodd-Frank Act requires an unprecedented two- to five-year rulemaking process where roughly 250 new regulations need to be researched and written by at least a dozen regulatory agencies.
Systemic risk generally describes the interdependency of institutions in global financial markets and the domino effect that can arise from correlated risks and the failure of a single or handful of financial institutions.
Derivatives play an important role in the capital markets and broader economy, allowing businesses to manage and hedge risk.
DOL Fiduciary Standard
The Department of Labor (DOL) has proposed a change to the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) that would expand the scope of those who become fiduciaries.
Recently, certain municipalities have explored the use of eminent domain to seize mortgage loans from their holders and refinance them with reduced principal balances through government programs.
Housing Finance Reform
Overall housing finance reform in the U.S., including the future of the GSEs, will be addressed separately from the Dodd-Frank Act.