On June 3, Davis Polk & Wardwell LLP released its June 2013 Dodd-Frank Progress Report, which can be found here. Davis Polk issues these Progress Reports monthly to update the market on the progress of the rulemaking required under Dodd-Frank.
- No New Deadlines, 0 Requirements Met, 1 Proposed. No rulemaking requirements were due in May and no unmet rulemaking requirements were met with finalized rules. One new rule was proposed to meet rulemaking requirements.
- Although the CFTC released final rules governing the registration and regulation of swap execution facilities (SEFs) pursuant to required rulemaking authority, these rules have already been counted, as they were partially fulfilled due to previous CFTC rules incorporating SEFs into existing CFTC regulations and providing initial elements of the SEF core principle requirements.
- Current Status. As of June 3, 2013, a total of 279 Dodd-Frank rulemaking requirement deadlines have passed. Of these 279 passed deadlines, 175 (62.7%) have been missed and 104 (37.3%) have been met with finalized rules. Regulators have not yet released proposals for 64 of the 175 missed rules.
Blog posts about the Davis Polk Progress Report from previous months can be found here.