Dodd-Frank Reform in the Second Term Paper

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Some of the provisions in the Dodd-Frank reform were already present in the pre-existent legislations, and the new law has focused on their reinforcement and strengthening. Such is for instance the case of the provisions regarding the accountability and transparency of the financial operations of the economic agents. Aside from these however, the Dodd-Frank reform also introduces new elements in the supervision of the fiscal sector. These refer mainly to the following:

A massive restructuring of the regulatory system

The focus on merging some of the regulatory agencies, while others would be eliminated all together

The focus on the streamlining of the control and regulation

The enforcement of standards for corporate governance and the pay of managerial executives

The elimination of the possibility for bailouts

The requirements for some of the regulatory agencies (both old ones and new ones) to report to the Congress one or twice a year

The enhanced needs of financial agents, including small size investor advisers, to register with the Securities and Exchange Commission

The extension of the control of the Federal Reserve Commission over more financial institutions, including both banking and non-banking agencies.

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All in all, the Dodd-Frank Reform is the most comprehensive legislation to regulate the financial market since the Great Depression of 1929-1933. Its primary scope is that of preventing future economic crises from occurring within the United States. Also, in the cases of economic problems, the Dodd-Frank act strives to protect the customers, the investors and the taxpayers. The reform focuses mostly on ethical behavior, accountability and transparency and it impacts all actors in the regulatory and fiscal sectors......

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