After Months Of Speculation And Debate, the Dodd-Frank Wall Street Reform and Consumer Protection Act (more easily referred to as just "Dodd-Frank") was signed into law this past July. While simply getting all of the proposed guidelines and new rules crammed into the behemoth law was a feat unto itself, now comes the really hard part: implementation and compliance. Dodd-Frank touches practically every aspect of financial services, from hedge fund and investment adviser registration to proprietary trading, consumer protection and capital reserve limits. Almost every business unit in financial services firms will be subject to Dodd-Frank's rules in some way or another.
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