SEC Chair Paul Atkins Remarks at SEC Town Hall
SEC RELEASES
Introduction
With the SEC under new management, Firms are wondering how they can best adjust their compliance programs for a new regulatory landscape.
Industry experts pull from their interactions with regulators, enforcement actions, and talks from SEC leadership. We have already seen enforcement actions under a new administration, even with changes to the enforcement division’s hierarchy.
The new SEC Chairman, Paul Atkins, provided his opening remarks at the SEC Town Hall, on May 6, 2025, and we have compiled key takeaways from his speech below.
Key Takeaways
- Atkins wants a return to the core mission from Congress to protect investors, further capital formation, and safeguard markets by:
- Holding accountable those who lie, cheat, and steal.
- Building a route for investors’ capital to make its way into our economy, creating better products and services.
- Ensuring that regulations are balancing costs and benefits without becoming too burdensome.
- Atkins believes that the SEC may have lost its own fairness, orderliness, and efficiency over the previous four years.
- Atkins aims to keep politics out of how securities laws and regulations are applied.
- The Offices and Divisions have decreased their staff by around 15% since the beginning of the fiscal year.
- Capital formation should be promoted, not stifled.
- The SEC will be cognizant of the limits of its statutory authority, and will focus on regulation that is smart, effective, and appropriately tailored.
Vigilant’s Conclusions
Atkins says that “it is a new and brighter day for the SEC”. We anticipate that there will be a calming of the aggressive regulatory landscape experienced under the previous administration. Proposed rules and amendments appear likely be tabled, and some that were adopted may be repealed.
However, there is no indication that investigative and enforcement activity will decrease in the core areas of compliance. The SEC remains focused on maintaining their Examination pace and has taken priority (for the time being) over new Rules and Risk Alerts.
Firms should be prepared for a similar examination pace and take the necessary steps to ensure they do not lose the compliance gains achieved in recent years. Firms that scale back on compliance could face significant risks if they encounter SEC Examiners with evidence that they pulled resources and attention away from their responsibilities.
Contact Vigilant today to discuss how we can best prepare your compliance program for the new challenges ahead.