BY RON S. GEFFNER AND YEHUDA BRAUNSTEIN Reprinted with permission of Hedgeweek With the Trump administration in the White House, laws. For example, when Dodd-Frank was origi- anced regulations, we believe that this administration regulatory uncertainty permeates the financial nally enacted, at the time of registration, those will quickly realize that there are a lot of reasonable services industry. While many on Wall Street are investment advisers that were required to register and sensible regulations currently in place that are very excited by the Trump presidency, others are as advisers with the SEC were required to adopt working well, and that eliminating rules wholesale approaching this new era with trepidation. Presi- written policies and procedures and invested capi- can create chaos in the financial markets and may dent Trump is unpredictable in many ways, and the tal into their operations and technology to support come at a high price to their constituents. industry eagerly awaits his actions hoping that the compliance. Therefore, we expect that caution will financial markets do not respond negatively and _be exercised before significant change is made to ‘Ran S. Geffner is a Partner and te chaos in the global keto id th . t iated with imol Head of the Financial Services ; create chaos in the global marketplace. avoi | e@ various costs associa e with imple- Group of Sadis & Goldberg LIP. He > menting change. A case in point is the new DOL regularly structures, organizes and ) Vs While we should expect that the Trump administration Rule (discussed earlier in this newsletter), origi- counsels private investment vehicles, € will aim to cut back financial regulation implemented nally set to take effect on April 10, 2017. Invest- _—‘“#vestment advisory organizations, 0 : ‘ a _ ; : broker-dealers, commodity pool operators and other during the last eight years, it is unrealistic to expect ment advisers impacted by the DOL Rule, have . ae ; ; a “ ; : investmen