When US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act to promote stability in the financial markets and to overhaul the US financial regulatory system in July 2010, the global scope of the Act was probably underestimated. Now, with the deadline for registration of 1 July 2011 fast approaching, it is widely considered the most significant and sweeping US financial regulatory reform since the passage of the 1933 and 1934 Securities Acts to regulate the sale of securities at US federal level.