Peter Suderman on Dodd-Frank and the Age of Endless Regulation
Four years after the passage of Dodd-Frank, the sweeping financial legislation championed by President Obama and passed by congressional Democrats in the wake of the 2009 financial crisis, just half of its rules and regulations are finished.
According to law firm Davis Polk & Wardwell LLP, which tracks implementation of the law, only 52 percent of its nearly 400 rulemaking requirements are complete. At the Securities and Exchange Commission (SEC), which is chiefly responsible for implementation of the law, just 44 percent of the required rules are finalized or close.
Welcome to the age of endless regulation, writes Reason Senior Editor Peter Suderman.
