Regulatory reform

With an eye toward potential repeal, Alexander Acosta told senators that he will abide by President Trump's executive memorandum and review the rule's impact.

The senator isn't waiting for attorney Jay Clayton's confirmation hearing to ramp up her opposition.

One planner says there's no reasonable basis for a delay, while another says he can't afford all the compliance costs.

Market forces have wrought changes that can't be repealed, according to champions of the rule.

The firm is one of the first to issue a formal comment letter on the Department of Labor's proposal to put off the regulation's implementation date.

"The number of enforcement cases is likely to be down considerably going forward," said Urska Velikonja, a law professor at Emory University.

Hope is dimming, but top Democrats like Sen. Elizabeth Warren and investor advocates are unlikely to relent in their efforts to preserve the regulation.

"To me, that rule, it was about one thing and it was about enabling trial lawyers to increase profits,” acting Chairman Michael Piwowar says.

The department says it needs time to complete a review of the regulation ordered by President Trump, who also recently outlined criteria for reversing the rule.

The deputy director of the agency's examinations unit, however, cautions that any such effort must be carefully coordinated.