Tiu Asset Management $($TAM$)$ recently hired Jonna Yun. Yun is a member of TAM$$s Global Equity portfolio team and is assigned the task of analyzing the effects of regulation on the U$.$S$.$

financial services sector. In her first report to the team, Yun makes the following statements:

Statement $1$: $$The Dodd$-$Frank Wall Street Reform and Consumer Protection Act

$($Dodd$-$Frank Act$),$ enacted on $21$ July $2010$ by the U$.$S$.$ Congress, will have a

significant effect on U$.$S$.$ banks and other financial services firms.$$

Statement $2$: $$The U$.$S$.$ Securities and Exchange Commission $($SEC$)$ allocates certain

regulatory responsibilities to the Financial Industry Regulatory Authority $($FINRA$),$

with the goal of ensuring that the securities industry operates fairly and honestly.$$

Statement $3$: $$The Dodd$-$Frank Act called for derivatives reforms, including shifting

from bilateral to centralized derivatives settlement, by July $2011.$ The G$-20$ called for action by its members on derivatives reform by year$-$end $2012.$ The accelerated time

line of the Dodd$-$Frank Act concerned some U$.$S$.$ firms.$$

Statement $4$: $$Regulators use various tools to intervene in the financial services sector.$$

Statement $5$: $$Regulations may bring benefits to the U$.$S$.$ economy, but they may also

have unanticipated costly effects.$$

Statement $6$: $$Regulation Q imposed a ceiling on interest rates paid by banks for certain

bank deposits.$$

Which of the following is most likely an unanticipated effect of regulation?

Hiring compliance lawyers

Setting legal standards for contracts

Establishing employers$$ rights and responsibilities