Senate Committee approves Paul Atkins to lead the SEC

The Senate Banking Committee has advanced the nomination of Paul Atkins to lead the US SEC in President Donald Trump’s second term. The next step is a full Senate confirmation slip to confirm his appointment.

Warren pointed to his past stance on market risk and policy She said It contributed to the financial meltdown. She also questioned the role of his advice in FTX, a disrupted crypto exchange led by Sam Bankman-Fried.

The committee approved Atkins’ nomination with 13-11 votes amid opposition from all Democrats.

Trump slammed Atkins as his SEC chair candidate in December 2024, praise His experience in the capital markets, his commitment to “common sense” regulations and support innovation, including digital assets.

The nomination process faced early delays as White House documents on financial disclosures related to the wealth of Atkins’ wife’s family were pending. According to the ethics application, Atkins and his spouse combine net worth of at least $327 million, including crypto-related assets of up to $6 million.

What’s next?

Atkins’s appointment now Progress On the Senate floor for the final vote. Historically, this step I’ve taken it Approximately 1-3 weeks, depending on Senate schedule and procedural considerations.

Verification of previous SEC chairs, including Gary Gensler and Jay Clayton, took five to six weeks from the committee hearing to the final Senate vote.

After confirmation of the Senate, Atkins was sworn in and could immediately assume the SEC chairman. For comparison, Gensler took office three days after confirmation, and Clayton began two days after votes.

With Republicans making up a majority in the 53-47 Senate, Atkins’ confirmation could move quickly. With a quick timeline, Atkins could take office early next month.