Implications of Financial Services Reform for Natural Resource Companies

Sullivan & Cromwell LLP - July 15, 2010

On July 15, 2010, the U.S. Senate passed by a vote of 60 to 39 the sweeping financial regulatory reform bill entitled the “Dodd-Frank Wall Street Reform and Consumer Protection Act,” or “Dodd-Frank.”  The U.S. House of Representatives previously approved the legislation on June 30, 2010.  President Obama is expected to sign the bill into law during the course of the next week.  While most of the bill is targeted at the financial services industry, many provisions of the proposed legislation are directly relevant to companies involved in the natural resource industry.