October 20, 2020

Volume X, Number 294

October 19, 2020

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Looking For The "Full Text" Of The Dodd-Frank Act? You Won't Find It Here

The Securities and Exchange Commission provides links to various federal securities laws, including the following:

"See the full text of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010."

Clicking on this link, however, does not lead to the "full text" of the Dodd-Frank Act.  It turns out that several sections (including the last three sections) are missing.  When I queried the SEC about this, I was advised that the link is to compilations of the House Office of Legislative Counsel.  The House Office gave the SEC the following explanation:

"The sections of Dodd-Frank referred to below are actually omitted from our comp of that statute.  Provisions may be omitted because they are amendatory (with the amendments appearing in a comp we maintain of the relevant portion of the amended statute) or for certain other reasons (such as if the provision was not needed to respond to the immediate situation for which the comp was prepared).  Any such omissions are indicated by a line of 7 asterisks, as at the end of the Dodd-Frank comp."

Perhaps, the SEC should update its website to read "See the not quite full text . . .".  

© 2010-2020 Allen Matkins Leck Gamble Mallory & Natsis LLP National Law Review, Volume X, Number 17


About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm

Keith Paul Bishop is a partner in Allen Matkins' Corporate and Securities practice group, and works out of the Orange County office. He represents clients in a wide range of corporate transactions, including public and private securities offerings of debt and equity, mergers and acquisitions, proxy contests and tender offers, corporate governance matters and federal and state securities laws (including the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act), investment adviser, financial services regulation, and California administrative law. He regularly advises clients...