NEW YORK, July 23, 2010 – Milbank partner Winthrop Brown was interviewed by the Washington Business Journal early this week for his thoughts on the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on banks, businesses and other financial institutions in the Washington area.
According to the article, while “the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act is meant to bring new stability to the financial system,” many other companies in the financial sector, including hedge funds and private equity firms, also will be affected. Mr. Brown said that “there will be new limits on the money these funds can raise from bank holding companies," and added that "the rules won’t go into effect for several years and will impact new private equity funds more than existing funds." Click here to read the full article.