A federal appeals court has rejected a regulation from the Securities and Exchange Commission regarding shareholder rights in a case that might prompt legal challenges against other rules required by the Dodd-Frank Act. "The whole implementation of Dodd-Frank is at risk," said Hal Scott, head of the Committee on Capital Markets Regulation. "This is a problem that we should have been aware of from the beginning. That's why this rush to rule-making was flawed."

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