The Dodd-Frank Wall Street Reform & Consumer Protection Act Pt 1.

Good afternoon.  Welcome to today’s webinar, “The Dodd-Frank Wall Street Reform and Consumer Protection Act: The Impact on Regulatory Mandates and Securities Litigation.”

Goals and Objectives

During today’s webinar, our presenter will cover the following:

– Overview of the Dodd-Frank Wall Street Reform and Consumer Protection Act

– How your legal practice might change under the new legislation

– Revolutionary or evolutionary?

– Whistleblower provision

– Statute of limitations

– Arbitration protocol

– US legislation compared to reforms in other countries 


About the Presenter

Today’s webinar will feature Louis Straney.  Louis has extensive experience in senior level management and financial services.  Currently, he serves as the consulting and testifying expert in securities litigation for both plaintiffs and defense clients.  He’s the author of two texts on Securities Fraud.  One of which is used for training and certifying of fraud examiners.  His most recent book, Securities Fraud: Detection, Prevention and Control will be released by John Wiley & Sons in November of 2010.

If you have a question that pertains to this presentation, we do ask that you use the chat or Q&A features which are found here on the right hand side of the screen. Lewis will do his best to answer your questions during the two Q&A breaks that we will be taking during the presentation. Tomorrow morning, I will send out an email with the link to the archived recording of this webinar. I do ask that you take time to fill up the survey that will appear on your screen after the webinar is over.  With that said, I now invite you to sit back, relax and enjoy.  I am now going to turn it over to our distinguished presenter, Louis Straney.  Louis, the presentation is all yours.

Goals and Objectives

Thanks, Matt.  Good afternoon to everyone. If we have someone from Hawaii or Alaska, so good morning to you folks and I look forward to going through this with you today.  I will tell you that I have done this a time or two, so I’m not experimenting and I encourage everyone  — in the previous presentations to email or contact me with any questions and I will also encourage you to do the same.  This was a real monumental task.  There were about 2,300 pages related to this legislation.  I’ve actually read it all, believe it or not; stacks and stacks of paper.  There are probably some things that I have missed and probably some things that are important to you, so I’ll try to cover all that I can during this one hour.  I’m going to be respectful of your time and we are going to keep it as compact and as fast-paced as we possibly can.  The slide presentation was designed to be printer friendly so there is not a lot color.  I tried to keep it to a minimal just so you could see some of the contrasts.  With that, I’ll probably move forward.

I used a sort of a subtext here in the beginning, “How much reform and how must protection?”, because I think that is very important to consider as we go through this because this legislation was given a lot of media coverage during the process and but has faded from the front page since then as a lot of legislation does.   I think that as we move through this, it is very important to keep in mind that this was targeting reform, targeting consumer protection and at the end of the day, I will leave it up to you to decide how much have been accomplished.

Here’s a way to build, look, it looks more important because of the Old English style font that was used in preparing the text.  Again, it is 2,300 pages and I’m asking myself and I think you will be asking yourself too, is how much reform and how much protection?

This legislation was signed into law by President Obama on the 21st day of July of this year.  Here are some of the highlights from this:

– Really, it is the first major reform since the 1930s. In my opinion, we had servings Sarbanes-Oxley which was targeted toward WorldCom and Enron, but again this is a sweeping reform, in my judgment.  It is the first reform of a major scale since the 1930s.  It is not retroactive, so it’s not reaching back and correcting things that have happened in the past.  It really is forward-thinking.  It is a reaction to some scandals and some rascals that we are all probably pretty familiar with.  There were a lot of parties bickering and when it right down to it, the vote was strictly along party lines.  It is reacting to some of these events, partially to the large-scale bailouts and to derivative trading.

The Dodd-Frank Wall Street Reform & Consumer Protection Act: The Impact on Regulatory Mandates & Securities Litigation Pt. 1 is brought to you by TASA, the leaders in expert witness referrals for consumer based consultants.

Leave a Reply