The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 became law July 21, 2010, affecting banks, investment funds, insurance companies, investment advisers, credit-rating agencies and other corporations that operate within the financial system as well as the regulatory bodies that oversee the system itself.

Duane Morris' attorneys monitor the rules and regulations released under the Dodd-Frank Act, as well as the regulatory agencies' interpretive guidance. The Act requires new and existing agencies to undertake more than 50 studies of the financial system and its participants, and more than 250 instances of rule-making. Congress has given the agencies considerable discretion in designing the final rules, such that the eventual impact of the Act may be difficult to foresee from its text. However, regulations are being adopted in stages, affording market participants opportunities to analyze each and adopt new procedures and behavior where required.