Wall Street consultant Paul Atkins confirmed to lead SEC

Nicola M. White, Bloomberg News on Apr 9, 2025

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WASHINGTON — The U.S. Senate confirmed Paul Atkins as chair of the U.S. Securities and Exchange Commission, ushering him into the role only a week after President Donald Trump’s sweeping tariffs unleashed market turmoil.

Atkins, approved Wednesday in a 52-44 vote, is expected to scale back regulation, reduce corporate disclosures and make SEC rules friendlier toward cryptocurrency companies, which battled in court with predecessor Gary Gensler. The new chair will also need to monitor the volatility triggered by the trade levies.

Atkins is a familiar face at the SEC’s headquarters. He served as a commissioner from 2002 to 2008, a stretch that included two pivotal moments for the agency — the fallout from the Enron accounting scandal and the start of the global financial crisis.

“A veteran of our Commission, we look forward to him joining with us, along with our dedicated staff, to fulfill our mission on behalf of the investing public,” agency commissioners said in a joint statement.

After leaving the SEC, Atkins launched the influential Patomak Global Partners, a Washington consulting firm that worked with some of the biggest Wall Street names. Atkins has also held a number of advisory roles for digital-asset organizations.

Lucrative private-sector work has paid off for Atkins. He and his wife, Sarah, an heir to a roofing-products firm, have a net worth of at least $327 million, according to Office of Government Ethics filings.

His close ties to industry have drawn scrutiny about conflicts of interest from lawmakers like Senator Elizabeth Warren, a Massachusetts Democrat. During his March 27 confirmation hearing before the Senate Banking Committee, Warren accused Atkins of downplaying the risks in the market before the 2008 financial crisis.

Atkins has said he’s fully in compliance with all ethics and divestment obligations.

The SEC already has made major changes since Gensler departed on Trump’s inauguration day. Under Acting Chair Mark Uyeda, the regulator not only has dropped more than 10 high-profile crypto-enforcement cases, but also rolled back deadlines to comply with Gensler-era rules and made it easier for companies to reject shareholder proposals. The agency ended the court defense of embattled rules requiring companies to disclose climate-related risks and greenhouse gas emissions.

Atkins will lead a much leaner agency. At least 500 SEC employees have taken deferred resignation and buyout offers to leave the regulator as the Trump administration pushes for across-the-board cuts to federal agencies.

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(With assistance from Lydia Beyoud.)

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