SEC Chair White Stresses Lasting Reform on Dodd-Frank's Fifth Anniversary

In a statement issued on the anniversary of Dodd-Frank, Chair Mary Jo White outlined the SEC's abiding progress in addressing most of the legislation's mandatory rulemaking provisions.

The principal SEC rulemakings and proposals outlined by Chair White included the following: (i) those that provide for greater SEC oversight of hedge fund advisers and other private fund advisers; (ii) the finalization of the Volcker Rule's restrictions on proprietary trading and investments by banks; (iii) comprehensive reforms to the governance and management of the credit rating agencies; (iv) the adoption of rules to prevent the recurrence of investor runs on money market funds; (v) the foundational rules for a new regulatory framework for security-based swaps; and (vi) regulations pertaining to municipal advisors.

Chair White also mentioned recently proposed rules for the potential clawback of executive compensation.

Chair White stated that lasting reform and not merely "checking the box" for a list of rules is the only way to safeguard against another financial crisis.

See: Chair White's Remarks.See also: SEC Report on Dodd-Frank Implementation.