One big concern is requiring that the executor of the trust get CLEO sign-off along with the background check. This would effectively restrict many people's ability to own NFA items, especially in any relatively large city.It wasn't an EO, it was an executive action, which is really anything done by the executive branch. Basically the administration saw something the ATF was thinking about doing and told them to go ahead with the idea, and then took credit for it (kinda like how your boss can take credit for your work).
The issue wasnt that people were using trusts, it was that the trustees werent getting background checks like the individuals were. The proposed change in the CFR only makes trustees submit fingerprints etc, it doesnt elimiate trusts as a legitimate holder of NFA weapons.
The regulation is currently in the CFR comment period (90 days) and then the ATF has to respond to those comments before actually changing the regulation. There are a lot of legitimate questions about how the ATF is going to deal with things like trusts already in possession, of NFA weapons and how they're going to deal with the fact that trusts are regulated at the state level, not at the federal level (in regards to things like verbiage and adding/removing trustees).
Oh, and my hedge Was purchasing a couple of mags that I was going to buy anyway, I just pushed up the purchase date by a week or two because I knew they wouldn't be in stock much longer. I actually sold more things than I purchased.
I got into the game too late to want to mess with an AR, so I picked up as many high-cap mags as I could find at a decent price for my Beretta 92, and I got a CX4 storm (which was on the potential ban list) that shares mags with my 92. I expanded my pistol collection significantly and switch up my concealed carry weapon as I spent more time shooting. I actually have been shooting more during the panic than before, simply because I got very successful with finding ammo.
With this latest NFA item scare, I got my trust together and have paperwork on 4 cans submitted. I'm probably going to pick up two more before it is all over.
I've decided that if a Dem lands in the White House in 2016, the very next day I'm going to go out and buy a mid-level quality AR and start stocking up on 30 round mags and ammo for it. Might advance the time table depending on how the mid-term elections go in 2014.