Yesterday, Davis Polk & Wardwell LLP released its January 2013 Dodd-Frank Progress Report, which can be found here. This report is one in a series of Davis Polk presentations that illustrate graphically the progress of the rulemaking work that has been done and is yet to occur under the Dodd-Frank Act. The Progress Report has been prepared using data from the Davis Polk Regulatory Tracker™, an online subscription service offered by Davis Polk to help market participants understand the Dodd-Frank Act and follow regulatory developments on a real-time basis. Earlier blog posts about the progress report can be found here.
In this report:
- As of January 2, 2013, a total of 237 Dodd-Frank rulemaking requirement deadlines have passed. Of these 237 passed deadlines, 142 (59.9%) have been missed and 95 (40.1%) have been met with finalized rules.
- In addition, 136 (34.2%) of the 398 total required rulemakings have been finalized, while 133 (33.4 %) rulemaking requirements have not yet been proposed.
- Although no rulemaking requirements were due in December, the SEC released a final rule on requirements to search for lost securityholders, notification requirements with respect to unresponsive payees, and a final rule on requirements to search for lost securityholders. The NCUA released a final rule on alternative credit ratings. The Federal Reserve released a proposed rule on enhanced prudential standards and early remediation requirements for foreign banking organizations and foreign nonbank financial companies.