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The SEC Gets Its Groove Back

It won’t likely come as big news to Elisse Walter, the new interim head of the Securities and Exchange Commission (SEC) who is replacing Mary Schapiro, that the securities industry will be significantly transformed in 2013. For Walter, it’s going to be a continuing baptism by fire. The transformation will be more decisive, perhaps, than anything we’ve seen during the last four turbulent years, in large part because of the Dodd-Frank rule-making and implementation that now confront the SEC. As Christopher Garcia observes, there are an “obscene” number of rules yet to be proposed, finalized, and implemented – hundreds of them, with many having potentially significant implications for the banks. The Volcker Rule is only the most obvious example, adds Garcia, a partner at Weil, Gotshal & Manges, LLP. Read more in Forbes here.

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