The advent of the Trump Administration brings a new era for financial regulation and related legislation, with the potential for major changes in the US and globally. Although it is clear that the main theme will be deregulation, there is a very wide range of potential outcomes. This report describes the underlying forces at work, including the roles of the Administration, regulatory bodies, and Congress and the political dynamics driving how they will interact. Drawing on this base, it describes the outcomes that appear highly likely, those that are distinctly possible but not probable, and some outside possibilities.