Former SEC chairman criticises Dodd-Frank

Author: | Published: 14 Oct 2010
The Dodd-Frank Act is a “complex, misunderstood behemoth,” that leaves too much up to regulators and lobbyists, according to former Securities and Exchange Commission (SEC) chairman, Arthur Levitt.

Speaking at the annual Loan Syndication and Trade Association conference last week, the Levitt said that the way the bill was assembled in Congress shows a lack of consideration over implementation.

“They took an industry which they understood so imperfectly and they threw the whole mess to the regulators.” Levitt said. “So...