Federal Ruling may Setback back Dodd-Frank implementation

Bloomberg reports a Washington, D.C. U.S. Court of Appeals  ruling may forestall implementation of some Security and Exchange Commission’s (SEC) Dodd-Frank Act regulations, enacted over a year ago. Business groups had challenged a rule dealing with access to company board positions, and the costs associated with fending off investors’ attempts to oust board members. U.S. Circuit Court Judge Douglas Ginsburg ruled the commission had not done a cost analysis for the new rule, a charge leveled against the SEC in its attempts to implement many changes as the result of Dodd-Frank. The commission has over 100 Dodd-Frank rules to overhaul, the most of any regulating agency. The SEC has officials who are trained to review the financial impact of the rule changes, but one analysts says the agency is dominated by lawyers, and the economists take a back seat to them. Several analysts say the SEC has to do a better job of cost-benefit analysis or the entire Dodd-Frank Act may be at risk.

(Judge Ginsburg photo courtesy of Conspiracy Planet)

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