Paul Atkins Sworn in as SEC Chair, Signaling Shift Toward Deregulation
Paul Atkins was officially sworn in as Chair of the U.S. Securities and Exchange Commission (SEC) on Monday, April 21, marking a clear shift toward a pro-business, deregulatory agenda under the Trump administration. A former SEC commissioner from 2002 to 2008, Atkins returns to the agency at a time of significant legislative change.
Atkins's confirmation came after a narrow 13–11 vote in the Senate Banking Committee earlier this month, followed by full Senate approval. He succeeds interim director Mark Uyeda, who had already begun rolling back crypto-related enforcement actions and halting efforts to uphold climate disclosure standards. Atkins is expected to continue this deregulatory momentum.
Senate Banking Committee Chair Tim Scott praised Atkins for focusing the SEC on its "core mission," emphasizing his support for capital formation and regulatory clarity around digital assets. Atkins’s return also suggests a potential reversal of many initiatives introduced under former Chair Gary Gensler, especially those related to ESG (Environmental, Social, and Governance) policies and cryptocurrency oversight.
However, Atkins faces criticism from Democrats. Senator Elizabeth Warren highlighted his controversial role during the 2008 financial crisis and accused him of advising figures like former FTX CEO Sam Bankman-Fried in his private consulting work.
Beyond crypto and climate policy, Atkins is also expected to scale back the SEC’s involvement with the Financial Accounting Standards Board (FASB) and temper the Public Company Accounting Oversight Board’s (PCAOB) more aggressive regulatory approach—moves welcomed by many in the auditing industry for potentially easing compliance burdens.
