Trump nominee for SEC will refocus agency on core mission

President-elect Trump has nominated prior SEC commissioner Paul Atkins as chair of the agency, a move that CEI Director of Finance Policy John Berlau believes will help the agency prioritize and refocus on its core mission.

Statement by John Berlau:

“President-elect Trump’s nomination of Paul S. Atkins to serve as chair of the Securities and Exchange Commission is an excellent choice. As SEC Chair, Atkins would push for reforms to benefit retail investors seeking to build wealth and Main Street entrepreneurs looking to attract capital, just as he has done when he last served as commissioner and as an advocate in the private sector.

“During his previous tenure at the SEC, Atkins argued forcefully that legitimate investors and entrepreneurs suffer when regulatory burdens take away from a company’s focus on shareholder return. One of his greatest successes was his persuasion of the SEC to stop levying large corporate fines that punish a company’s shareholders for the bad acts of individual executives, pointing out that such policies twice punish investor victims of executive malfeasance.

“Americans would benefit if the Senate proceeds quickly on Atkins’s confirmation and queries the nominee at the hearing about how he would refocus the SEC on its statutory mission of protecting investors from fraud and deception and ensuring SEC regulations do not impede the advancement of American capital formation.”

Related analysis: Next SEC Must Restore Capital Formation Mission