President-elect Donald Trump’s rumored frontrunner for the SEC chair place, Paul Atkins, is reportedly reluctant to tackle the function as a result of daunting problem of managing the company’s present state, CoinDesk reported on Dec. 3, citing sources conversant in Atkins’ considering.
In keeping with the report, Atkins views the place as unattractive, given the appreciable effort required to show round what he believes to be a mismanaged company underneath the management of outgoing SEC Chair Gary Gensler.
The Trump group interviewed Atkins final week and a few rumors this week declare he would be the subsequent SEC chair. Nonetheless, subsequent experiences of his hesitation go away the query of whether or not he’ll settle for up within the air for now.
Atkins, who served as an SEC commissioner from 2002 to 2008, has but to verify his willingness to take the function publicly. Sources conversant in the matter have indicated that his choice hinges on a number of components, together with the way forward for his consulting agency, Patomak World Companions.
If Atkins accepts the SEC chair function, he would wish to step down from his enterprise pursuits. The supply prompt that Atkins could solely achieve this as soon as his agency is positioned to function independently.
Former Commodity Futures Buying and selling Fee (CFTC) Chair Chris Giancarlo is a vocal supporter of Atkins for the function. Giancarlo has argued that Atkins is the suitable candidate to revive the SEC’s credibility and effectivity.
Giancarlo, who was additionally thought-about for the SEC chair function, has been outspoken concerning the want for reform throughout the SEC, notably in how the company handles points associated to digital property and crypto markets.
Nonetheless, if Atkins’ situations aren’t met, Trump could think about others for the SEC chair function, together with present SEC Commissioner Mark Uyeda, former CFTC Chair Heath Tarbert, and Robert Stebbins, a companion at regulation agency Willkie Farr & Gallagher LLP.