The Heritage Foundation has expressed its approval of Paul Atkins' nomination as Chair of the U.S. Securities and Exchange Commission (SEC) in the forthcoming administration of President-elect Donald Trump.
Derrick Morgan, Executive Vice President of The Heritage Foundation, stated: "Paul Atkins’ nomination for SEC Chair is a victory for investors, workers, and anyone with a stake in the success of the American economy. Paul will combine years of public service as an SEC Commissioner under President Bush with his extensive track record in the private sector advising major firms on SEC compliance. His depth of experience and vision for the future of U.S. capital markets, including the new frontier of cryptocurrency, will help him deliver much-needed change and modernization."
Morgan emphasized that innovation should not be stifled by regulatory bodies: "We can no longer afford an SEC that stifles innovation and promotes hostility towards innovations like crypto. Paul will help return the SEC to its role as a common-sense regulator that provides a clear, straightforward regulatory framework to make capital markets great again."
David Burton, Senior Fellow in Economic Policy at The Heritage Foundation, also supported Atkins' nomination: "Paul Atkins will be an ally of common sense, the small investor, and entrepreneurs at the SEC. For years, Gary Gensler has stifled and burdened U.S. companies with climate and ESG-related reporting rules that have nothing to do with companies’ performance. These rules cost companies and investors billions in compliance costs, reduce investor returns, and distract the SEC from its core mission of protecting investors and facilitating capital formation."
Burton believes that under Atkins' leadership, there will be significant changes: "Now, with Paul Atkins at the helm, the SEC will have a chance to roll back counterproductive rules and improve the regulatory environment for small businesses seeking to raise capital, digital assets, and small public companies. American investors will thank President Trump for this nomination."
