Regulations required under the US Dodd-Frank Act require "extensive elaboration", raising challenges of co-ordination and interpretation, according to Daniel Tarullo, a member of the board of governors of the Federal Reserve.
Tarullo said the "somewhat extemporised" character of the Dodd-Frank Act meant agencies had a significant task before them in fleshing out regulations. Speaking at the University of Pennsylvania on October 10, he highlighted the challenge of co-ordinating action between age
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