Regulatory reform was on the top of everyone's minds at the Women Advisors Forum in New York City on Thursday. Marilyn Mohrman-Gillis, the managing director of public policy and communications for the Certified Financial Planner Board of Standards, gave a keynote address entitled "Dodd-Frank and You" that revealed how the regulatory landscape impacts financial advisors.
Since Dodd-Frank became law in July, Mohrman-Gillis said the state of the country has changed vastly. Leading up to the passage of Dodd-Frank, the country was in the midst of a crisis that exposed the defects in the financial system…. "This created a brief regulation-friendly window that allowed Dodd-Frank to pass with bipartisan support," she said. "Now less than a year since it passed the environment has changed dramatically. "The Tea Party has gained traction in the midterm election and now the focus of the country is about reducing the deficit, she added. "It's a politically charged legislative environment."
This is bad timing politically if you are a fan of the Dodd-Frank reforms because there is a lot of work that still needs to be done to make sure the reforms are implemented. Yet financial reform is caught in a monumental crossfire, Mohrman-Gillis said. Read more >
April 28, 2011