There were expectations that the Securities and Exchange Commission – once Chairman Mary Jo White was up-to-speed and two new commissioners installed – would pick up the pace of meeting its Dodd-Frank Act obligations. Instead, proposed and final regulations have emerged at a snail’s pace.
Now, one of those new commissioners, Kara Stein, is demanding that her colleagues refocus on the task at hand. “Next month will mark four years since the enactment of the Dodd-Frank Act, and I think it’s fair to ask how we’re doing on the systemic risk front,” she said during a speech at the Peterson Institute for International Economics in Washington D.C. “To put it charitably, I’ll say the answer is mixed.”
