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SEC Chairman Addresses Policies Shifting City Toward Control
The Securities and Exchange Commission chairman said city leaders are using language of control over freedom. He also announced a full review of the agency's enforcement processes.
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Securities and Exchange Commission Chairman Paul Atkins said Tuesday that leaders entrusted to govern the city are beginning to speak the language of control rather than of freedom. Atkins made the remarks in a keynote address to the Economic Club of New York.
He quoted President Trump on the risks of communist systems and linked those risks to campaign promises that would undermine the foundation of American capitalism.
Atkins declared an end to regulation-by-enforcement tactics and announced a top-to-bottom review of the agency's internal enforcement processes. He said the review has occurred only once before in the SEC's history. The chairman stated that resources will shift away from volume and record penalties toward misconduct that inflicts the greatest harm, such as severe fraud and market manipulation.
Atkins pointed to market data showing initial submissions for firm-commitment IPOs rose 70 percent from January through early June compared with the same period in 2024. He also noted one corporate offering this month raised $85.7 billion. The SEC was created in 1934 to increase transparency for investors after the 1929 stock market crash.
