2 months ago
35
You have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.
Mr. Atkins, a pro-business conservative, would likely take a lighter regulatory approach than the current chair of the Securities and Exchange Commission.
- Dec. 4, 2024, 12:59 p.m. ET
President-elect Donald J. Trump picked Paul Atkins to serve as chair of the Securities and Exchange Commission, turning to a pro-business conservative and former regulator to run the agency that is in charge of protecting investors from fraud and malfeasance on Wall Street.
Mr. Trump made the announcement in a post on his Truth Social platform on Wednesday.
Mr. Atkins, 66, who was an S.E.C. commissioner under President George W. Bush, is a well-known, and generally admired, figure in Washington legal circles and the securities regulatory community. In the early 1990s he worked at the S.E.C. during both Republican and Democratic administrations.
Shortly after his term as S.E.C. commissioner ended in 2008, Mr. Atkins founded Patomak Global Partners, a financial services consulting firm. Patomak provides advisory services to banks and investment firms on regulatory and compliance matters. More recently, the firm has advised clients on issues related to crypto and digital assets.
Mr. Atkins, a lawyer, has been playing an active role in helping to draft “best practices” for crypto trading platforms as co-chair of the Token Alliance, which is part of the Digital Chamber of Commerce. His nomination will need Senate confirmation.
In tapping Mr. Atkins to serve as the nation’s top securities cop, Mr. Trump chose someone who is likely to take a lighter regulatory approach than the current S.E.C. chair, Gary Gensler. The fast-growing cryptocurrency market, in particular, has bristled against efforts to regulate it.
Mr. Trump, in his post, said “Paul is a proven leader for common sense regulations.” He added that Mr. Atkins “recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
