Paul S. Atkins is an American lobbyist and businessman, who has been nominated by President-elect Donald Trump to serve as Chair of the U.S. Securities and Exchange Commission, which he previously served on from 2002 to 2008.[1] Known for advocating reduced regulatory burdens and promoting financial innovation, Atkins has been a vocal supporter of free-market principles in regulatory policy.[2][3] Atkins is co-chair of the Token Alliance, a cryptocurrency lobbying group for the Chamber of Digital Commerce which seeks to establish clear and balanced digital asset regulations.[1]
Paul S. Atkins | |
|---|---|
| Chair of the Securities and Exchange Commission | |
Presumptive nominee | |
| Assuming office TBD | |
| President | Donald Trump (elect) |
| Succeeding | Gary Gensler |
| Commissioner of the U.S. Securities and Exchange Commission | |
| In office August 8, 2002 – August 1, 2008 | |
| Appointed by | George W. Bush |
| Preceded by | Laura Unger |
| Succeeded by | Troy A. Paredes |
| Personal details | |
| Born | Lillington, North Carolina, U.S. |
| Political party | Republican |
| Education | Wofford College (BA) Vanderbilt University (JD) |
Early life and education
editOriginally from Lillington, North Carolina, Atkins grew up in Tampa, Florida.[4] He received his A.B. from Wofford College in 1980 and was a member of Phi Beta Kappa[5] and Kappa Alpha Order.
Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review.[4]
Career
editAtkins began his career as a lawyer in New York City with Davis Polk & Wardwell, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France in 1988.[5]
Before his appointment as commissioner, Atkins assisted financial services firms in improving their compliance with SEC regulations and worked with law enforcement agencies to investigate and rectify situations where investors had been harmed. Most prominent among these situations was Bennett Funding Group, Inc., a $1 billion leasing company that perpetrated the then-largest "Ponzi" fraud to date in U.S. history. More than 20,000 investors lost much of their investment. Assisting the company's court-appointed bankruptcy trustee, Atkins served as crisis president of Bennett's sole surviving subsidiary, according to his SEC biography. By stabilizing its finances and operations and rebuilding and expanding its business, he improved its share value for the remaining investors by almost 2000%.[6]
From 1990 to 1994, Atkins served on the staff of two former chairmen of the SEC, Richard C. Breeden and Arthur Levitt. Under Chairman Breeden, he assisted in efforts to improve regulations regarding corporate governance, enhance shareholder communications, strengthen management accountability through proxy reform, and decrease barriers to entry for small businesses and middle market companies to the capital markets. Under Chairman Levitt, he was responsible for organizing the SEC's individual investor program, including the first investor town hall meetings, and an SEC consumer affairs advisory committee.
Atkins was a commissioner of the U.S. Securities and Exchange Commission (SEC) from July 9, 2002 until his term's completion in August 2008.[4] He served with chairmen Harvey Pitt, William H. Donaldson, and Christopher Cox.
In December 2016, Atkins joined a business forum assembled by President-Elect Trump to provide strategic and policy advice on economic issues.[7]
Personal
editAtkins is married with three sons.[4]
References
edit- ^ a b "Trump taps Paul Atkins to lead SEC, signaling shift on crypto regulation". The Washington Post. 2024.
- ^ Prentice, Chris (December 5, 2024). "Trump's SEC pick Atkins marks victory for establishment expertise". Reuters.
- ^ "Trump to nominate Paul Atkins, a cryptocurrency advocate, for SEC chair". CBS News. December 4, 2024.
- ^ a b c d SEC Biography: Commissioner Paul S. Atkins, Security Exchange Commission. Retrieved February, 2011.
- ^ a b "Paul S. Atkins" Archived 2011-02-11 at the Wayback Machine, Patomak website bio. Retrieved 2011-04-22.
- ^ Law School, Vanderbilt University (27 October 2006). "SEC Commissioner Paul Atkins, '83, urges conservative approach to regulation". law.vanderbilt.edu. Retrieved 5 December 2024.
- ^ Bryan, Bob (2 Dec 2016). "Trump is forming an economic advisory team with the CEOs of Disney, General Motors, JPMorgan, and more". Business Insider. Retrieved 1 June 2017.