The Seattle Post-Intelligencer offers this report. See this snippet:

Bradley Smith, the FEC chairman, said a majority of the six-member watchdog commission likely would find that any change in spending rules must come from Congress.
“I think we will get four commissioners who will say, ‘Sorry, we know some people are really upset about this, but it’s not illegal,’ ” Smith told reporters during a break in the second and final day of testimony on proposed rule changes for political groups.