Anyone in the corporate governance world wondering when Congress will move forward with its massive reform of financial regulation will need to keep waiting.
Senate leaders had hoped last week to pass the 1,400-page regulatory reform bill sponsored by Senate Banking Committee Chairman Christopher Dodd, but instead spent most of their time wading through hundreds of amendments proposed by other senators. The amendments that did pass mostly pertained to issues such as managing systemic risk to the financial system, the role of the Federal Reserve, and oversight of trading in derivatives. Amendments most relevant to corporate governance are still waiting ...