Lawyers Say They Feel Swamped by Dodd-Frank's Requirements

Partners Patrick Daugherty, Lisa Tharpe, and Kathryn Trkla said the Dodd-Frank Wall Street Reform and Consumer Protection Act introduced a number of time-consuming provisions that have created substantial workloads for both attorneys and financial regulators. They stated that the implementation of Dodd-Frank has shifted the focus of their practices, adding that a significant portion of legal work has emerged from the need to counsel clients on the derivatives market changes resulting from the Act’s new rules and reforms.