Dodd-Frank saga drags on as regulators miss deadlines

05/2/2011 | Wall Street Journal, The

Getting the Dodd-Frank Act approved by Congress appears to have been the easy part. Regulators are muddling through the process of writing rules mandated by the act. Law firm Davis Polk & Wardwell estimated that 62% of the hundreds of rules have yet to be proposed. Regulators continue to miss deadlines established by Congress. "Dodd-Frank is Sarbanes-Oxley on steroids. It's an exponentially greater volume of regulation," said Margaret Tahyar, a partner at Davis Polk. The "sheer number of rules still in the pipeline makes it almost inevitable agencies will miss an increasing number of deadlines over the next year."

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