The uncertainty is worse for highly regulated industries, like financial services. It's unclear what will happen with Dodd-Frank, FRTB, DOL fiduciary rule, etc.

The uncertainty is worse for highly regulated industries, like financial services. It's unclear what will happen with Dodd-Frank, FRTB, DOL fiduciary rule, etc. This has potentially large, adverse impact on consulting and RegTech firms - customers prefer a "wait & see" approach where costs and decisions are deferred during periods of regulatory uncertainty.