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On May 20, 2010, the Senate approved a far-reaching financial regulatory reform bill entitled the Restoring American Financial Stability Act. The next step in the legislative process is to reconcile the Senate Bill with the Wall Street Reform and Consumer Protection Act, which was approved by the House of Representatives in December 2009. 

Partners Jonathan Shepard and Mark Jacobs, Counsel Jodi Lashin and Associate Jacob Radcliff, members of Pryor Cashman's Investment Management Practice Group, have written an informative Legal Update which:

• Summarizes the fundamental differences in provisions of particular interest to the investment management industry in each of the bills
• Lists certain proposals which were omitted or defeated in both the House and Senate
• Projects the expected timeline for reconciliation of the final financial regulatory reform bill

To read the Legal Update, entitled “The Financial Regulatory Reform Legislation: What’s In, What’s Out and What’s Next,” please click here.

On June 9, 2010, the article was published on the streetinsider.com website.