WASHINGTON — In addition to those actually implementing the Dodd-Frank Act, former Federal Deposit Insurance Corp. Chairman Sheila Bair announced a new group Wednesday of former regulators, lawmakers and other heavy-hitters in the policy world designed to keep tabs on regulatory reform.

The Systemic Risk Council, which will be chaired by Bair, will assess the progress of regulators carrying out major reforms and provide constructive criticism where needed on pending rules.

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