We don't know for sure WHEN they will issue their proposed deeming order and regulations. Most recently they have said October BUT they have given us several proposed dates in the past 2 years and have not stuck with them yet so there is nothing firm about that October date.
After issuing their proposed deeming order and regulations there will be a comment period. We don't know how long that will be either, so its simply a guess to say maybe 3 months, and then they have to consider what comments have been made. That can take as long as they wish. After that they "can" put into effect a deeming order and regulations OR they can simply do nothing at all. Safe to say nothing is going to happen quickly but impossible to say how long it could all take.