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Thursday 27th of March 2025 13:51:13

WATCH: Incoming SEC Chair Paul Atkins' Senate confirmation hearing

March 27, 2025 - Washington D.C.

The Senate Banking Committee held a confirmation hearing today for Paul Atkins, President Joe Biden's nominee to chair the Securities and Exchange Commission (SEC). Atkins, a former SEC commissioner and Wall Street executive, is expected to take the helm of the regulatory agency in the coming weeks.

During the hearing, Atkins faced questions from lawmakers on a range of topics, including his views on corporate governance, financial regulation, and the role of the SEC in promoting investor protection.

Atkins emphasized his commitment to ensuring the integrity of the financial markets and protecting investors, citing his experience as a former SEC commissioner and his work at a major investment bank. He also highlighted his support for the SEC's mission to promote capital formation and facilitate economic growth.

Senators from both parties grilled Atkins on his stance on various issues, including:

  • Corporate governance: Atkins expressed support for more robust disclosure requirements and stricter oversight of corporate boards, citing concerns about executive compensation and corporate accountability.

  • Financial regulation: Atkins signaled his willingness to work with lawmakers to strengthen financial regulation, including addressing concerns about systemic risk and market volatility.

  • Investor protection: Atkins emphasized the importance of investor protection, citing the need for more robust disclosure requirements and stricter oversight of financial products and services.

  • Climate risk: Atkins acknowledged the growing importance of climate risk in financial markets, pledging to work with the SEC's staff to develop strategies for addressing these risks.

The hearing was marked by a mix of praise and criticism for Atkins, with some lawmakers expressing concerns about his ties to the financial industry and his potential to prioritize the interests of Wall Street over those of Main Street.

Atkins' confirmation hearing comes as the SEC faces a range of challenges, including the ongoing COVID-19 pandemic, market volatility, and concerns about corporate governance and financial regulation. His nomination is expected to be voted on by the full Senate in the coming weeks.