On July 21, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. Alston & Bird continued its teleseminar series on the more sweeping and immediate reforms promised by the legislation. Dwight Smith, Christina LaVera and Joseph Yesutis of Alston & Bird's Washington, D.C., Bank Regulatory Practice conducted a session on the broad new regulatory approaches to monitoring and mitigating "systemic risk" within the financial services industry. Included in the panelists presentation were the following topics.
- The creation and power of the Financial Stability Oversight Council
- The heightened supervisory authority of (and burden on) the Federal Reserve Board
- The creation of new classes of regulated entities
- The expanded authority of regulators to restrict financial activities and services of various entities
- The powers of the Fed and the FDIC to provide liquidity to distressed financial institutions
To access a recording of the presentation, click here.
The series will continue with the following upcoming sessions.
- Tuesday, August 3: New Requirements for Investment Advisers, Hedge Funds and Other Private Funds, Investor Protections and the Impact on SEC Oversight
- Tuesday, August 10: New Bank Regulations, Consumer Protections and the Mortgage Lending Industry
Each session will begin at 1:00pm EDT, with the last 30 minutes available for participant Q&A. Additional teleseminars will be added as industry reaction and regulatory events dictate.