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SEC chair tells appropriations panel he will return rulemaking to notice-and-comment, seeks to disband FinHub
Summary
Newly reinstalled SEC Chairman Paul Atkins told a House appropriations subcommittee he will prioritize notice-and-comment rulemaking, pursue a ‘‘rational’’ crypto framework, and seek congressional approval to disband the agency's FinHub office and fold innovation work agency-wide.
Paul Atkins, chairman of the U.S. Securities and Exchange Commission, told a House appropriations subcommittee that restoring formal rulemaking procedures and clarifying regulatory authority are top priorities for his chairmanship.
Atkins said the SEC will return to ‘‘notice and comment rulemaking, not regulation by enforcement,’’ and will seek congressional approval to disband FinHub so innovation work is embedded across the agency rather than concentrated in a single office.
Atkins framed the change as a restoration of the SEC's statutory duties under the Securities Act and the…
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