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Happy 5th Anniversary Dodd-Frank

As a leading voice for long-term, patient capital, the Council of Institutional Investors (CII) celebrates the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The landmark law ushered in the most sweeping overhaul of U.S. financial regulation since the 1930’s.

CII advocated vigorously for the many provisions of Dodd-Frank and believes the law has helped to restore trust in U.S. markets and strengthen investor protections.

“The Dodd-Frank Act was a clear win for investors,” said Amy Borrus, CII’s interim executive director. “It closed critical gaps in regulation. It also strengthened corporate governance by giving shareowners important tools to hold the boards of companies they invest in accountable for their actions.” In particular, mandatory advisory shareowner votes on executive compensation—“say on pay” votes—have been a catalyst for constructive engagement between investors and companies on pay and other issues.

But Dodd-Frank is still a work in progress. Financial regulators have not finished writing the rules for its full implementation. CII urges regulators to complete the job, and urges Congress to make sure regulators have the resources they need to finish up and police the markets robustly.