Trump also vowed to eliminate the Patient Protection and Affordable Care Act, which would unleash a host of changes in health care law. Ira Coleman, who heads the health practice at McDermott, Will & Emery and will take over as firm chairman at the start of next year, told The American Lawyer he's preparing for more activity.

“We have a $3 trillion health care industry that is heavily regulated,” he said. “For Big Law, changes to the regulatory and legal environment are always good for business.”

James Kramer, the co-chair of Orrick's white-collar, investigations, securities litigation and compliance group, said Wednesday's surge in the U.S. stock market was a sign that Wall Street expects less regulation under Trump.

Kramer foresees a corresponding rise in transactional work.

“Some amount of creativity is certainly beat down because of the regulations,” he said. “I think more money is going to flow. You may see more private company investment as well.”

Another institution that Trump wants to do away with is the Consumer Financial Protection Bureau, the federal agency created by the Dodd–Frank Wall Street Reform and Consumer Protection Act in response to the 2008 financial crisis. If he follows through, it's unclear what would happen to the cases CFPB is currently handling.

Paul Hastings corporate partner David Hearth said he expects that any changes to Dodd-Frank will fuel his practice, since his clients will need help understanding the new rules.

“Dismantling Dodd-Frank is a little like unscrambling the omelet—easier said in a platitude than actually done,” Hearth said. “A lot of people within the SEC had to give up their day job for a while because they spent years putting together the rules required by Dodd-Frank. Not all of those would be reversed if Dodd-Frank goes away.”

One area of the act where Hearth said the Trump administration might scale back is the Volcker Rule, which curbs bank trading. Much will also depend on who Trump puts in his cabinet.

“Although Trump himself is probably not in the weeds of what Dodd-Frank is and how it works, I think [his election] will embolden people who have a more intimate understanding of the act to take action,” Hearth said.

Because only three out of five SEC commissioners have been appointed and approved, Trump has the opportunity to significantly shift the commission's makeup, said Paul Hastings investigations and white-collar defense partner Nick Morgan. Like Hearth, he expects the uncertainty associated with Trump's presidency to create business for him.

“I'm working with enforcement folks all the time, and they're trying to evaluate in their investigations and litigation what the SEC commissioners are going to approve and calibrate accordingly,” Morgan said. “Uncertainty means room for more activity.”

Morgan stressed that his predictions were all tentative.

“Everything I just said is my trying to read the tea leaves of what a Trump administration's priorities would be, and that's extremely difficult to do because the pronouncements out of the Trump campaign were thin,” Morgan said.

This article was originally written for GlobeSt.com's sister publication, ALM's The Recorder.

For attorneys in practice areas from health care to white-collar defense, Donald Trump's victory at the polls Tuesday will probably mean more business—at least at first. But, according to a recent article written by GlobeSt.com sister publication, ALM's The Recorder, firm leaders are less clear on how a Trump win will affect their bottom lines over the long haul.

One of the issues Trump was most adamant about during his campaign, according to the article, was his opposition to the Trans-Pacific Partnership trade pact. Harry Clark, the chair of Orrick, Herrington & Sutcliffe's international trade and compliance group, said he doesn't expect a drop in his overall workload, or for the United States to participate in many multilateral trade agreements under the new president.

“It is fair to say that it's hard to envision much in the way of trade agreement advancement moving forward,” Clark said. “You gotta think the TPP is dead.”

Clark is counting on an increase in country-specific and product-specific negotiations to keep him busy, though. Plus, he said, it's rare for trade negotiation work to make up the bulk of any international trade lawyer's practice.

Trump also vowed to eliminate the Patient Protection and Affordable Care Act, which would unleash a host of changes in health care law. Ira Coleman, who heads the health practice at McDermott, Will & Emery and will take over as firm chairman at the start of next year, told The American Lawyer he's preparing for more activity.

“We have a $3 trillion health care industry that is heavily regulated,” he said. “For Big Law, changes to the regulatory and legal environment are always good for business.”

James Kramer, the co-chair of Orrick's white-collar, investigations, securities litigation and compliance group, said Wednesday's surge in the U.S. stock market was a sign that Wall Street expects less regulation under Trump.

Kramer foresees a corresponding rise in transactional work.

“Some amount of creativity is certainly beat down because of the regulations,” he said. “I think more money is going to flow. You may see more private company investment as well.”

Another institution that Trump wants to do away with is the Consumer Financial Protection Bureau, the federal agency created by the Dodd–Frank Wall Street Reform and Consumer Protection Act in response to the 2008 financial crisis. If he follows through, it's unclear what would happen to the cases CFPB is currently handling.

Paul Hastings corporate partner David Hearth said he expects that any changes to Dodd-Frank will fuel his practice, since his clients will need help understanding the new rules.

“Dismantling Dodd-Frank is a little like unscrambling the omelet—easier said in a platitude than actually done,” Hearth said. “A lot of people within the SEC had to give up their day job for a while because they spent years putting together the rules required by Dodd-Frank. Not all of those would be reversed if Dodd-Frank goes away.”

One area of the act where Hearth said the Trump administration might scale back is the Volcker Rule, which curbs bank trading. Much will also depend on who Trump puts in his cabinet.

“Although Trump himself is probably not in the weeds of what Dodd-Frank is and how it works, I think [his election] will embolden people who have a more intimate understanding of the act to take action,” Hearth said.

Because only three out of five SEC commissioners have been appointed and approved, Trump has the opportunity to significantly shift the commission's makeup, said Paul Hastings investigations and white-collar defense partner Nick Morgan. Like Hearth, he expects the uncertainty associated with Trump's presidency to create business for him.

“I'm working with enforcement folks all the time, and they're trying to evaluate in their investigations and litigation what the SEC commissioners are going to approve and calibrate accordingly,” Morgan said. “Uncertainty means room for more activity.”

Morgan stressed that his predictions were all tentative.

“Everything I just said is my trying to read the tea leaves of what a Trump administration's priorities would be, and that's extremely difficult to do because the pronouncements out of the Trump campaign were thin,” Morgan said.

This article was originally written for GlobeSt.com's sister publication, ALM's The Recorder.