The January Davis Polk Dodd-Frank Progress Report revealed that the two rule-making requirements were proposed by the Federal Reserve, though more than 30 percent of the rules remain unproposed.
As of Jan. 2, 237 of the total 398 Dodd-Frank requirements have passed. Regulators missed nearly 60 percent of the passed deadlines and have proposed finalized rules for only 40 percent of the 237 passed deadlines. Proposals have not been released for 31 of the 142 missed rules.
No new deadlines were due in December, but the SEC issued final rules on requirements to search for lost security-holders, as well as notification requirements in relation to unresponsive payees. The National Credit Union Administration also released a final rule on alternative credit ratings.
The CFTC has led the way in the rule-making process, finalizing 40 of its 60 assigned rules. The SEC lags behind other regulators in its progress of implementing Dodd-Frank rules. The agency has missed eight deadlines that have not yet been met with rule proposals and has finalized only 33 of its 95 assigned rules.
Additionally, deadlines have passed and rules have not yet been proposed in derivatives, systemic risk, investor protection laws, orderly liquidation authority, credit ratings agencies, corporate governance and banking regulations.