Significant Securities Law Changes Included in Wall Street Reform Legislation
21 July 2010SEC Update
On 15 July Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Act), which President Obama signed into law on 21 July. The Act is the most far-reaching financial reform legislation enacted in the United States since the 1930s. Although directed primarily at the financial services industry, the Act will have a major impact on nearly all domestic public companies by virtue of new requirements under the securities laws regarding corporate governance, executive compensation, and other matters. Foreign private issuers whose securities trade in the United States may be subject to some provisions of the Act unless the SEC exempts them.