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Report: Little progress made in implementation of Dodd-Frank rules

The recently released Davis Polk Dodd-Frank Progress report reveals that little progress has been made since June in the issuance and finalization of Dodd-Frank rules.

According to the report, as of July 2, only 119 of the total 398 rule-making requirements under Dodd-Frank have been met with finalized rules. Of the 398 total requirements, 55.5 percent of those requirements have passed their deadlines.

In June, nine rule-making requirements were met. The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Federal Reserve issued a joint final rule on market risk capital standards. Additionally, the SEC issued a final rule on compensation committee listing standards, and the FDIC and Treasury published a final rule on the maximum borrowing authority under the Orderly Liquidation Authority.

Of the total 398 rule-making requirements, rules have not yet been proposed for 142, or 35.7 percent, requirements, while 119 requirements have been met with finalized rules. Rules have been proposed to meet 137, or 34.4 percent, more of those requirements.

The Commodity Futures Trading Commission has finalized more Dodd-Frank rules than any other federal agency and has missed fewer deadlines without rule proposals than other agencies.

More derivatives rules have been finalized than any other rule category, though the category has also had more missed deadlines without rule proposals than any other rule category. The consumer protection rule category boasts the highest number of proposed rules with future deadlines.

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