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Dodd-Frank Act:understand and comply 

The Dodd-Frank Wall Street Reform and Consumer Protection Act were signed into law by President Obama on July 21, 2010. This legislation represents the most comprehensive financial regulatory reform, impacting the regulation of organizations in or around the financial services industry including commercial banks, thrifts, large complex companies, credit rating agencies, and securities firms. These entities now are thrust into the midst of the largest rulemaking process in generations. The act is designed to provide lawmakers with a greater level of oversight to discourage high-risk behavior, increase transparency, protect consumers, end too-big-to-fail bailouts and avoid a repeat of the recent turmoil that occurred in the financial markets.

With a great deal of the rulemaking still to be finalized, there are many regulations required already. Executive compensation and corporate governance practices at public companies – even companies outside of the financial services industry – resulted in specific provisions that require new stock exchange listing standards, mandated resolutions for public company proxy statements, and expanded disclosures for all public companies soliciting proxies or consents.

The BWise Solution for Dodd-Frank

BWise® Compliance and Policy Management software, a critical component of our enterprise Governance, Risk Management and Compliance (GRC) platform, can help your organization comply with Dodd-Frank’s numerous, burdensome regulations as defined now, while keeping you abreast of new rules as the legislation unfolds or as it is enacted. With automatic regulatory and compliance updates to the Compliance and Policy Management functionality, BWise is always up-to-date on the latest version of regulatory issues:

  • Continuous supervision of risk events, incidents and policy breaches, especially as related to Dodd-Frank
  • Oversee, measure and manage key organizational risks through a single, integrated platform, using one common language for internal audit, risk, and compliance
  • Quickly identify enterprise risks, and ensures that all vulnerabilities are below the acceptable risk threshold of your organization
  • Document and manage all Dodd-Frank-related content and activities
  • Comprehensive legislative and regulatory information via an integration with StateScape services that will allow you to stay informed about new rules and updates to Dodd-Frank, and makes these changes actionable

In addition, BWise can provide your organization with the following capabilities:

  • Risk-based audits conducted with relevant tools
  • Scenario analysis enabling continuous evaluation of opportunities and risks
  • Certification and enforcement of important company policies
  • Continuous monitoring to ensure compliance

Benefits

BWise® Compliance and Policy Management software makes Dodd-Frank actionable and allows a proper balance between performance and risk. For financial services institutions, the greater transparency afforded by BWise allows greater oversight of company-wide risk mitigation and compliance action plans. This translates into increased corporate accountability, improved financial, strategic and operational efficiencies, lower risk profiles and incident costs, and better overall performance.

Many companies trust BWise to help them navigate the intricacies of Dodd-Frank. Download the brochure to find out how BWise can help your organization to comply with Dodd-Frank.   

More information

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More information about Governance, Risk and Compliance can be found in our GRC Library.


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