President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (to be aptly named the “Dodd-Frank Act for short) into law on Wednesday July 21, 2010.  The complete act covers every bit of 2,300 pages and has bearing on almost every single financial services company and industry in the country.

The goals and basis of the Act include restoring “public confidence” in the United States financial system, preventing future crisis and predicting and foreshadowing future financial asset bubble inflations.  In addition, additional regulation of the financial services industry will spur change in the way financial institutions do business.

To read the bill in it’s entirety Click Here.

Below are some quick links to pertinent Business Process and Cyber Security related legislation within the Act:

Section 929I: Protecting Confidentiality of Materials Submitted to the Commission

Section 1071: Small Business Data Collection

Section 1082: Amendments to the Privacy Act of 1974

Section 1093: Amendments to the Gramm-Leach-Bliley Act

Section 1494: Study of Effect of Drywall Presence on Foreclosures

Section 1503: Reporting Requirements Regarding Coal or Other Mine Safety

Whether you manage Environmental Health & Safety or your businesses Cyber Security Risk, the Dodd-Frank Act will have an impact on your risk management efforts.  Continue to check back and read our blog about current events, regulations and risk identification, mitigation and controls to support your business operations.