Donald Trump Nominates Paul Atkins as SEC Chair
After 16 years, Paul Atkins may be returning to the SEC. President-elect Donald Trump named Atkins as his pick to chair the SEC. Atkins previously served as an SEC commissioner from 2002 to 2008 and worked with SEC Chairs Richard C. Breeden and Arthur Levitt in the 1990s.
Since leaving the SEC, Atkins has been CEO of Patomak Global Partners, consulting for banks, crypto companies, and securities market participants. Confirmation requires a simple majority; with Republicans holding 53 Senate seats, his confirmation appears likely. However, he may face questions regarding his private sector interests, particularly related to cryptocurrencies.
In 2022, emails released through a FOIA request revealed divisions among SEC officials over which tokens violated securities laws. The correspondence highlighted potential conflicts of interest involving William Hinman, former director of the SEC’s division of corporation finance, who had financial ties to Simpson Thatcher, a law firm with a stake in Ethereum, which has not faced SEC enforcement actions.
These revelations have implications for Atkins' nomination. Certain senators may scrutinize his past business involvements and financial exposure to crypto companies. As confirmation hearings approach, further information is anticipated, but Atkins has yet to publicly comment on his nomination.