The Street reports that:
Trump plans to turn control of his companies over to his two eldest sons, Donald Jr. and Eric, on Wednesday pointing to piles of papers on the stage next to him he said are among the "many documents" he has signed in completing the process.
Sheri Dillon, the lead attorney hired by Trump to help advise him on his financial conflicts of interests, discussed the steps to be taken.
The Trump Organization, she said, will be conveyed to a trust prior to the inauguration to be overseen by the Trump sons and longtime Trump executive, Alan Weisselberg. Trump's daughter, Ivanka, will leave the business and move to Washington, D.C. with her husband, Jared Kushner, who it was announced will join the Trump administration earlier this week.
No new foreign deals will be made during Trump's presidency, and the firm will bring onboard an ethics adviser who will consult and approve on any new domestic agreements. Dillon said the Trump Organization has already terminated more than 30 pending deals since his election, resulting in "an immediate financial loss of millions of dollars" for Trump and his children. The firm will also enlist a Chief Compliance Officer to ensure ethical operations.
"He will only know of a deal if he reads it in the paper or sees it on TV," Dillon said.
Trump will limit his information rights and receive reports only to reflect profit and loss on the company as a whole.
All of which sounds a lot like the ethics wall I suggested Trump build. This won't satisfy the ethics experts whose severe case of Trump derangement syndrome leads them to insist upon divestment, but there are good reasons for Trump not to divest: