Regulator on Wall Street Receives Tax Break for Suspicious “Pre-Bribe”

President Donald Trump’s appointed head of the Securities and Exchange Commission, often referred to as Wall Street’s watchdog, recently finalized the sale of his financial services company for over $25 million. Shockingly, he is poised to benefit from a substantial tax break on the sales proceeds; this information was divulged in the latest federal ethics disclosures obtained by The Lever. Paul Atkins, who has a rich history of aiding financial entities in evading oversight from federal authorities, has been reticent about the identity of the individuals behind his tax-exempt windfall or whether they have vested interests with the agency under his oversight. Lawmakers expressed concerns that the transaction bore a resemblance to a potential “pre-bribe.”

Atkins, a former commissioner of the Securities and Exchange Commission and a proficient corporate attorney who has recently solidified his reputation as a reliable consultant within Wall Street circles, ascended to the top position at the SEC in April. At present, he holds the title of the wealthiest SEC chair in history, with an estimated combined net worth of $327 million alongside his spouse.