The day after Donald Trump stunned the world in defeating Democratic opponent Hillary Clinton, lawyers who represent companies in securities cases were thinking about how the Republican president-­elect will set enforcement priorities. So far, given Trump's reticence on his views about securities policy, attorneys at big firms across the country were telling clients to take a wait-and-see approach.

"If last night taught us anything, it's let's not rush to judgment," said Tom Potter, a partner at Burr & Forman's Nashville office. Trump will take office in January with Republicans controlling both houses of Congress, giving his administration immense power to craft regulatory policies and an enforcement agenda that could benefit business.

Trump's transition team will review candidates for the U.S. Securities and Exchange Commission, including picking a chairman to replace Mary Jo White, a former Debevoise & Plimpton partner.

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