Lawmakers used hundreds of pages to outline changes to financial regulation, but the law lacks clarity, industry insiders said. John Taft, CEO at RBC U.S. Wealth Management and chairman-elect at SIFMA, said the Dodd-Frank act will require more than a dozen regulatory agencies to make more than 250 rules. "It's the single largest delegation of rule-making authority by Congress to regulators in modern history," Taft said.

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