(Article from Registered Funds Regulatory Update, April 2025)
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On April 21, 2025, Paul S. Atkins was sworn in as the 34th Chair of the SEC. Atkins was nominated by President Donald J. Trump on January 20, 2025, replacing former-SEC Chair Gary Gensler, who stepped down that same day, and confirmed by the U.S. Senate on April 9, 2025. Atkins has taken over from SEC Acting Chair Mark Uyeda, who, among other actions, established the Crypto Task Force in January, dedicated to developing a comprehensive and clear regulatory framework for crypto assets.
Atkins, who served as an SEC Commissioner from 2002 to 2008 under President George W. Bush, is well known in the securities regulatory community. In a shift away from Gensler’s approach, Atkins is expected to take a lighter regulatory approach, consistent with his prior tenure at the SEC. During his time as a Commissioner, Atkins emphasized the importance of capital market innovation and reducing regulatory burdens and advanced various reform efforts, such as modifying compliance requirements for smaller companies under the Sarbanes-Oxley Act.
Former Acting Chair Uyeda, who will continue on as an SEC Commissioner, and Commissioners Hester Peirce and Caroline Crenshaw have welcomed Atkins as a “veteran of our Commission.” In connection with his swearing in, Chair Atkins stated that he will “work to ensure that the U.S. is the best and most secure place in the world to invest and do business.”
SEC Statement, Statement on Senate Confirmation of Paul Atkins (Apr. 9, 2025), available at: https://www.sec.gov/newsroom/speeches-statements/commissioners-welcome-atkins-040925.
SEC Press Release, Paul S. Atkins Sworn In as SEC Chairman (Apr. 21, 2025), available at: https://www.sec.gov/newsroom/press-releases/2025-68.