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Perspective

Sep. 8, 2010

Is the Dodd-Frank Act the Next Sarbanes-Oxley for Law Firms?

Law firms resolved Sarbanes-Oxley issues using a single template. But one template won't address Dodd-Frank Act's impact on every client, by Hardy Callcott of Bingham McCutchen.

By Hardy Callcott

After a contentious congressional debate, on July 21, 2010, President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. Law firms, perhaps remembering the aftermath of the Sarbanes-Oxley Act in 2002, have produced alerts and held seminars to help clients understand the potential implications of the Dodd-Frank Act. Implementation of Sarbanes-Oxley turned into a lucrative multi-year project involvi...

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