Chairman Atkins expresses preference for regulatory clarity that boosts US markets’ appeal to businesses and investors.
On April 21, Paul Atkins was sworn in as Chairman of the SEC. He returns to the SEC from the private sector. Chairman Atkins is a securities lawyer who previously served on the SEC staff and as an SEC Commissioner from 2002-2008.
Chairman Atkins will soon begin naming his senior staff, including the Division Directors, and will identify the priorities for his term as Chairman. During his confirmation hearing, Atkins previewed the regulatory approach and priorities he envisions for the SEC, noting he wants to “return common sense” to the agency.
In terms of regulation, Chairman Atkins said he seeks “clear rules of the road” and a robust cost-benefit analysis for proposed rules to support innovative companies and position the US as a desirable jurisdiction for businesses and investors. In response to a question about his approach to environmental, social, and governance disclosure requirements applicable to public companies, he stated he wants to eliminate such requirements and “get politics out of the financial markets.” Chairman Atkins signaled that he will focus on improving capital formation, noting the challenges that young companies face when accessing the US public markets for capital and the reduced number of US IPOs in recent years.
In the coming months, Chairman Atkins likely will provide further clarity on SEC priorities and begin to execute his vision for the agency.
