US financial regulatory reform – implications for banking institutions

Azam H. Aziz, Laura S. Friedrich, Geoffrey B. Goldman, Nathan J. Greene, Donna M. Parisi, Bradley K. Sabel, Paul S. Schreiber, M. Holland West, Russell D. Sacks, Michael J. Blankenship, Shearman & Sterling LLP, New York. Website: www.shearman.com

On 17 June 2009, the Department of Treasury (‘Treasury’) released a broad financial reform plan (‘Plan’) that recommends changes that would have a significant impact on the financial industry.[1] This paper summarizes the key components of the Plan that will affect the way banks and financial institutions conduct business.