SEC Chair Nominee: Trump’s Pick Is a Deregulation Zealot and Industry Cheerleader
Dennis Kelleher, President, CEO, and Co-founder of Better Markets, recently commented on President-elect Trump’s selection of Paul Atkins to lead the Securities and Exchange Commission (SEC). Atkins is known for his intelligence and experience, but Kelleher raised concerns about his strong support for deregulation and industry interests. Kelleher pointed out Atkins’ track record of supporting deregulatory measures leading up to the 2008 financial crisis and his post-SEC consulting work on behalf of clients opposing financial industry re-regulation.
Kelleher highlighted the importance of balanced regulation based on facts and data, emphasizing the SEC’s role in maintaining investor trust, market integrity, and financial stability. He warned that excessive deregulation and leniency towards lawbreakers could jeopardize the well-being of US markets and lead to another financial crash, reminiscent of past crises like the 1929 crash. Kelleher stressed that investor confidence is fragile and essential for the prosperity of the US economy, emphasizing the crucial role of SEC leadership in safeguarding market integrity.
Better Markets, a non-profit organization established after the 2008 financial crisis, aims to advocate for public interests in financial markets and promote reform on Wall Street. The organization collaborates with industry partners to support pro-market policies that enhance the strength and resilience of the financial system, ensuring the protection of American jobs, savings, and retirements. To learn more about Better Markets and its mission, visit www.bettermarkets.org.
