The Implementation Challenge: Court Challenges to Dodd-Frank

The Dodd-Frank Wall Street Reform and Consumer Protection Act passed by Congress in 2010 dramatically changed the regulatory landscape for financial institutions. Most recently, two Dodd-Frank rules have been struck down by courts on the basis of inadequate economic analysis and six other lawsuits have been filed against regulators.

Among the issues we will discuss are:

• Grounds for Challenges: Cost-benefit analysis, extraterritorial application exceeding statutory mandates, US treaty obligations
• How have the SEC and CFTC adapted to these challenges, and are these changes sufficient?
• Who has standing to bring these cases?
• Do administrative remedies need to be exhausted?
• Raising objections through the public comment process
• Are self-regulatory organizations: FINRA, the NFA and National Securities Exchanges subject to these constraints?
• How will these challenges affect efforts to coordinate the regulatory agenda among major economies?

Speakers:

Kent A. Yalowitz, Partner, Litigation Practice, Arnold & Porter, New York
Kathleen Scott, Counsel, Financial Services Practice, Arnold & Porter, New York
Yue-Han Chow, Associate, Litigation Practice, Arnold & Porter, New York