Recently, SEC Chair Paul Atkins posted his remarks delivered at an “SEC Town Hall.” Here are five things I found interesting:
- Paul reinforced that investor protection is the cornerstone of the SEC’s mission – and that capital formation is at the root of what the SEC does. And then Paul drove home the point that safeguarding fair, orderly and efficient markets is an important third part of the SEC’s mission. That there needs to be clear “rules of the road” for market participants.
- There eventually will be a targeted, common-sense reorganization of the SEC. For starters, the SEC right now is reassessing all of its contracts, particularly the technology ones. The SEC’s Regional Offices still play a role.
- Commissioner Peirce is the Crypto Mom. Commissioner Uyeda will focus on international affairs. And Commissioner Crenshaw will focus on administrative law and procedure.
- The SEC’s head count is 4200 employees and 1700 contractors – down from a height of 5000 and 2000. There’s been a 15% decrease in head count so far in ’25. This Reuters article notes Corp Fin has lost about 9% of its staff, with the Investment Management, Trading & Markets and Enforcement Divisions suffering more sizable losses.
- I don’t recall an SEC Chair ever publicly releasing their remarks delivered during an SEC Staff-only meeting. That is interesting!
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