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Washington
Inside Washington (08/03/2011)
* WASHINGTON (8/4/11)--A recent federal appeals court decision could delay the implementation of several Dodd-Frank Wall Street Reform and Consumer Protection Act regulations. The U. S. Court of Appeals for D.C. Circuit Court ruled last month that the Securities and Exchange Commission did not properly conduct a cost-benefit analysis before finalizing a proxy rule required by the regulatory reform law (American Banker Aug. 3). Financial industry observers say the ruling will cause regulators to carefully justify their decisions for the implementation of new rules moving forward. The entire implementation of Dodd-Frank is at risk if the rules do not withstand court challenges, said Hal Scott, Nomura Professor and director of the Program on International Financial Systems at Harvard Law School. Republicans who opposed Dodd-Frank and have fought many of its regulations said the ruling supports their arguments that the new rules would be costly and burdensome to banks and the financial system …


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