Now that Congress has passed the Restoring American Financial Stability Act of 2010, more commonly known as the Dodd-Frank bill, it is useful to stand back and assess what Congress did and did not do in this legislation. As with most contested legislation, it is not as extensive as some had hoped and, naturally, it is deemed excessively burdensome by others. But in the quiet period following final passage, we can now separate the likely impact of the bill from the rhetoric and evaluate it in a dispassionate light.

Let's start by identifying what the bill does not do.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.