Dodd-Frank Act—overview for non-US lawyers—essentials
Produced in partnership with Dwight Smith of Covington & Burling LLP
Dodd-Frank Act—overview for non-US lawyers—essentials

The following Financial Services practice note produced in partnership with Dwight Smith of Covington & Burling LLP provides comprehensive and up to date legal information covering:

  • Dodd-Frank Act—overview for non-US lawyers—essentials
  • Cross border issues
  • Institutions subject to enhanced standards
  • Dodd-Frank
  • EGRRCPA
  • Other systemically important institutions
  • Enhanced prudential standards
  • Risk-based capital
  • Leverage
  • Liquidity
  • More...

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

This Practice Note is intended to give non-US legal practitioners a degree of familiarity with the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (the Dodd-Frank Act), the implementing regulations and the impact on foreign financial institutions. The Dodd-Frank Act was revised in important respects in 2018 by the Economic Growth, Regulatory Reform and Consumer Protection Act (EGRRCPA), with notable effects for both US and foreign banking institutions. This Practice Note covers a number of areas of US financial services law and regulation including:

  1. cross border issues

  2. institutions subject to enhanced standards

  3. enhanced prudential standards and capital requirements

  4. resolution of large institutions

  5. swaps and derivatives

  6. Volcker Rule

  7. private equity

  8. corporate governance

  9. credit ratings

  10. whistleblowers

  11. securitisations

  12. residential mortgage lending, and

  13. other consumer issues

The Dodd-Frank Act is the US response to the financial crisis that began in 2008, and the statute attempts to manage and reduce risks to US financial stability as well

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