“General Electric’s moves to divest most of its real-estate and financial-service assets demonstrate that a key provision in a post-financial crisis law imposing tougher rules on “systemically important” firms’ is working, a key architect of the legislation said on Monday.

“It shows that it works, but it also shows that being designated a systemically important is not a big kiss (from regulators),” former Rep. Barney Frank, D-Mass., told The Deal after speaking at a Better Markets event to mark the five-year anniversary of the Dodd-Frank Act.

“Frank and former Senator Christopher Dodd, D-Conn., the two co-authors of the landmark law that was written in the wake of the crisis, spoke about their efforts to approve the legislation at a Better Markets event. President Obama signed it into law in July 2010.

“A key provision requires a panel of financial regulators charged with identifying future risks to the financial system to designate large institutions as so-called “systemically important financial institutions,” or SIFIs.

“Better Markets, an advocacy group that was established to promote aggressive enforcement of the law.”

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Read the full The Street article by William McConnell here.