Atkins, who sat on the SEC from 2002 till 2008, lamented the present regulatory ambiguity. He emphasised that new guidelines that might be efficient, truthful, and inside the SEC’s authority have been obligatory. His trigger is to steer the company again to its core mandates—protecing buyers, having fun with truthful markets, and inspiring capital progress.
Senator Tim Scott, chairman of the Banking Committee, praised Atkins as a turnaround chief who would reverse what he termed “dangerous” Biden administration insurance policies. Nonetheless, not all lawmakers are satisfied.
Senator Elizabeth Warren raised issues over Atkins’ monetary ties to crypto. Earlier than the listening to, he disclosed holdings of as much as $6 million in crypto-related property. Warren urged him to recuse himself from selections linked to his previous shoppers and keep away from trade lobbying after his tenure.
The Senate Banking Committee has but to schedule a vote on Atkins’ affirmation. If authorised, he’ll change Gary Gensler as SEC chair. Till then, Mark Uyeda stays appearing chair.