Almost two years after the 2008 financial crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, a sweeping reform of the financial services industry that totaled hundreds of pages and required thousands of subsequent rulings by regulatory agencies. Sphere was engaged by a leading global investment bank to provide strategic guidance regarding its domestic and international public policy objectives related to the Dodd-Frank Act.
Sphere advised the client’s team on the still-fraught media environment, helped improve the firm’s public standing, and managed an integrated education campaign focused on the policymaking and regulatory communities in Washington.
Sphere provided strategic guidance to the firm’s government affairs and public policy professionals, as well as prepared political analyses and policy reports for its C-suite executives and Board.
Sphere developed and executed an educational campaign to address the “too-big-to-fail” concept and mitigate regulatory overreach during the rule-making phase of Dodd-Frank implementation, a campaign that garnered positive media attention. Sphere also assembled a coalition across major industry associations and Capitol Hill.
Sphere monitored and engaged media sources in Washington, New York, and London regarding a number of Dodd-Frank-related subjects, creating briefing materials on subjects including the Volcker rule and the Merkley-Levin amendment and their effects on proprietary-trading desks, extraterritorial considerations, and numerous other regulatory issues.
With targeted media outreach and monitoring, white-paper and material development, and extensive third-party engagement, Sphere has helped the investment bank successfully navigate the post-crisis policy environment and avoid the public relations and regulatory fallout suffered by many of its competitors.
Government: SEC, Congress, CFTC, Federal Reserve, CFPB, Treasury
Media: Wall Street Journal, Bloomberg, Reuters, Financial Times, New York Times, Politico