Davis Polk Issues One-Year Anniversary Dodd-
Frank Progress Report
July 22, 2011 10:10 AM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Davis Polk & Wardwell LLP today released a report analyzing
the rulemaking and implementation progress of the Dodd-Frank Wall Street Reform and Consumer Protection Act
following its one-year anniversary. The One-Year Anniversary Dodd-Frank Progress Report, which can be
accessed here, contains a wide range of statistical data and graphical illustrations of the Dodd-Frank rulemaking
process and takes into account the scores of rulemakings that had a July 21, 2011 deadline.
Among the key elements of the Progress Report:
l An analysis of rulemaking progress, which shows that regulators have completed 33, or 20%, of the 163
required rulemakings to date. Overall, regulators have completed 13% of all rulemaking requirements in
l Rules fulfilling 13 rulemaking requirements were finalized in July and 104 rulemaking deadlines were missed –
76 on July 16, 2011 and 28 on July 21, 2011.
l A summary of study progress, which shows 7 missed studies to date.
l A ranking of the most popular topics of discussion in the more than 1,700 meetings that have taken place
between regulators and market participants since Dodd-Frank's enactment.
l A graphical representation of the GAO's analysis of the $1.25 billion cost to regulators for Dodd-Frank
implementation over the next two years.
l A breakdown, organized by affected groups within financial firms, of the 1,081 specific tasks identified by
Davis Polk from CFTC and SEC releases that are applicable to swap dealers and major swap participants.
The analysis in the Progress Report is largely derived from the Davis Polk Regulatory Tracker, an online subscription
service designed to help market participants, particularly their in-house legal and compliance departments, effectively
navigate the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulatory phase of financial
About Davis Polk. Davis Polk & Wardwell LLP is a global law firm. For over 160 years, its lawyers have advised
industry-leading companies and global financial institutions on their most challenging legal and business matters. Davis
Polk ranks among the world’s preeminent law firms across the entire range of its practice, which spans such areas as
capital markets, mergers and acquisitions, credit, litigation, private equity, tax, financial regulation, investment
management, insolvency and restructuring, executive compensation, intellectual property, real estate and trusts and
estates. The firm has more than 750 lawyers in offices in New York, Menlo Park, CA, Washington DC, London,
Paris, Madrid, Hong Kong, Beijing and Tokyo. Davis Polk operates in Hong Kong as Davis Polk & Wardwell,
Hong Kong Solicitors, an affiliate of Davis Polk & Wardwell LLP. For more information:
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Davis Polk & Wardwell LLP
Tom Orewyler, 212-450-6039