The U.S.Financial Regulatory Reform Act and Its Implications

In July of 2010,the United States introduced the Dodd-Frank Wall Street Reform and Consumer Protection Act,aiming to reconstruct its financial regulatory system and revitalize its financial competitiveness.This reform will undoubtedly affect the reshape of the global financial system,producing far-reaching influence on US financial industry and the regulatory structure as well as the reform trend of the global financial regulation.This act can provide China with such implications as: China should seek the dynamic balance between financial regulation and market forces,build a regulatory system combining macro-prudential regulation with micro-prudential supervision while focusing on preventing systemic financial risks,strengthen the protection of the financial consumers,and carry out financial comprehensive operations with objective and prudential attitude.