Of Roman Gods and Financial Reform (Deloitte Touche Tohmatsu Limited)

Janus and the Dodd-Frank Act: Looking back, looking forward

KEYWORDS: Dodd-Frank Act, banks, financial institutions, Hedge Fund Regulation, financial services

  • Deloitte Touche Tohmatsu Limited


In Roman mythology, Janus is the god with two faces. One face looks backward, the other into the future, a duality that neatly serves our consideration of the range of views expressed about the Dodd-Frank Act (the Act) passed one year ago. The enormous and far-reaching act has been loved and loathed from the moment it was conceived to today. Its place in history is a matter of opinion; its impact a matter of intense debate.

In this paper we use the Janus principle – we look back over the last year and forward into the future from three very different perspectives:

  • The banks and financial institutions, which are subject to the Act
  • The regulators, who must implement it
  • The consumers of financial services, who face big changes in the future

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