tl;dr
Senator Elizabeth Warren has raised concerns about SEC chair nominee Paul Atkins' ties to FTX, his opposition to investor protections, and his involvement in deregulation efforts. She questioned his impartiality, citing his advisory role at FTX before its collapse, opposition to Dodd-Frank reforms, ...
Senator Elizabeth Warren has raised concerns about SEC chair nominee Paul Atkins' ties to FTX, his opposition to investor protections, and his involvement in deregulation efforts. She questioned his impartiality, citing his advisory role at FTX before its collapse, opposition to Dodd-Frank reforms, and contributions to a blueprint proposing SEC enforcement power cuts.
Warren also criticized Atkins' advisory work for the Chamber of Digital Commerce and potential conflicts of interest. She asked whether he would continue the SEC's crackdown on crypto fraud and resist political interference. Atkins has not commented publicly on the matter as of now. Warren urged him to respond to over 100 detailed questions ahead of his confirmation hearing, which is yet to be scheduled.
Senator Elizabeth Warren has demanded answers from SEC chair nominee Paul Atkins over his history of light-touch regulation, ties to the failed crypto exchange FTX, and involvement in efforts to dismantle key investor protections. In a sharply worded 34-page letter, Senator Warren questioned whether Atkins, a former SEC commissioner and longtime industry consultant, could impartially lead the agency at a time of market volatility and declining investor confidence.
Warren has raised concerns over whether Atkins' advisory role has benefited him financially and demanded full disclosure of Patomak’s clients. She criticized Atkins for advising FTX in the months before its collapse, expressing concerns about his judgment and ability to police financial misconduct.
Senator Warren asked whether Atkins would continue the SEC’s crackdown on crypto fraud, enforce new short sale disclosure rules mandated by Dodd-Frank, and resist political interference. She warned that his nomination signals a return to “pre-crisis deregulation” that could destabilize markets and erode public trust.