Dodd-Frank Cheat Sheet
Weighing in at slightly less than 1,000 pages, the Dodd-Frank Wall Street Reform and Consumer Protection Act is not at the top of most people’s reading list. Much of the legislation is written in legalese and typical Congressional jargon. It’s dense, confusing, complicated, and often boring (as the editors of the InformationWeek Financial Services group reminded me whenever they had the chance). So when I was asked recently by a CIO if we read the entire law, I responded: “Well, someone had to do it.”
Our mission was to dissect Dodd- Frank to figure out what’s important and what isn’t. The goal was to compile a shortened version—a cheat sheet, if you will—for readers who want to know more about the law but simply don’t have the time to sit down and read the massive, historic document. Make no mistake: Dodd-Frank is important—the most important piece of financial legislation since Reg NMS, Check 21 or Solvency II, at least—and, occasionally, eye-opening. The law touches on all parts of financial services and will change the way that many types of financial products are bought, sold, and traded.
Read the full Dodd-Frank Cheat Sheet.