I need you to summarize a law change. The law change is described in the paper below from page 10 to 14, section 2 named Regulatory Framework.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2463516

Using your own language, I need you to summarize it to two pages. There cannot exist any plagiarism. You need to keep the language and style academic. You can write in word and you don’t need to worry about formatting.