December 23, 2010
In response to the financial crisis of 2007-2008, Congress passed The Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank” or “the Act”). Most of the Act deals with financial regulation. Six provisions of the Act, however, impose new corporate governance regulations not just on Wall Street banks but also on all Main Street public corporations. A seventh provides limited regulatory relief from § 404 of Sarbanes-Oxley for the smallest public corporations.