Industry officials anticipate a quick confirmation of R.Alexander Acosta to be the next secretary of Labor after his March 15confirmation hearing before the Senate Health, Education, Labor andPensions Committee.

Following next week's hearing, announced by the HELPcommittee early Wednesday morning, an executive session willbe scheduled for committee members to vote on Acosta'snomination.

While industry officials see Acosta being confirmed likelywithin a month, and a delay of Labor's fiduciary rule from its April 10 compliancedate to June 9, they're skeptical that quick action will betaken by Labor on modifying the rule or doing away with it.

“It appears that there will be a delay to the [fiduciary rule's]applicability date until June. I don't see the Acosta hearingderailing this,” said Steve Saxon, chairman of Groom Law Group,which specializes in employee benefits.

Delaying the fiduciary rule's compliance date is necessary,Saxon said, so that Labor can respond to President DonaldTrump's Feb. 3 order to review the rule, and if it deemsappropriate, issue a proposal to revise it.

“What will be most interesting, and somewhat complicated, iswhat happens when [Acosta] gets there” to Labor, Saxon added. “Wehave a final [fiduciary] rule; it's effective, presumably, and itwill have a set applicability date. There's a lot of momentumbehind just moving forward with the rule; on the other hand,there's a lot of momentum on repealing the rule. Someone could dropa bill” on Capitol Hill to further derail the rule or litigatorscould persuade a court to issue a stay of the rule.

Fred Reish, a partner in Drinker Biddle & Reath's employeebenefits and executive compensation practice group in Los Angeles,notes that while the delay can be done by acting Labor leadership,“it will take political leadership to evaluate whether to modifythe rule or to kill it. At the least, that means that the secretaryneeds to be in place.”

Quicker action on the fiduciary rule's fate could occur if theassistant secretary of Labor's Employee Benefits SecurityAdministration, headed by Phyllis Borzi during the Obamaadministration, was also in place, Reish adds. “I think theprocess of deciding whether and how to modify the fiduciary rulewill be much slower than people think.”

Acosta, the only son of Cuban immigrants, is law deanat the public Florida International University in Miami as well asa veteran Republican administrator, serving as assistant attorneygeneral for civil rights and U.S. attorney in Miami.

Trump noted in a press conference to announce Acosta'snomination his degrees from Harvard College and Harvard Law Schoolas well as his service as a former clerk to Justice Samuel A. Alitoof the Supreme Court, adding that he's had “a tremendous career”and has been through multiple Senate confirmations.

“I think he'll be a tremendous secretary of Labor,” Trumpsaid.

He will be Trump's first Hispanic cabinet nominee.