SEC Chairman Paul Atkins discusses regulatory actions to halt trading in manipulated Chinese penny stocks listed on U.S. exchanges like NASDAQ.
Disclosure
Atkins: SEC Will Allow IPOs with Mandatory Arbitration Bylaws
“So, and so what we're doing is so I made it explicit that the commission will not turn away and the staff will not turn away those sorts of would be IPOs if they have a bylaw With either of those two provisions.”
Disclosure
Atkins: SEC to clarify meme coins and stablecoins are not securities
“That's our goal is to come out with rules that differentiate between what's the stock,
Security, and what is a commodity where the CFTC, the Commodity Futures Trading Commission, can oversee.
So meme coins and all that, and stable coins, those are not
for the…”
Opinion
Atkins: Prior SEC pursued crypto regulation through enforcement with antiquated rules
“Unfortunately the SEC started by looking at crypto as maybe the ostrich with the head in the sand, as was their attitude. Like maybe this stuff will go away by the time we lift our head out of the sand. That obviously didn't happen. And then came the very basi…”
Opinion
Atkins: Past SEC practices drove crypto asset trading offshore
“The trouble with the past practices of the, Commission is that it drove trading of crypto assets offshore.”
Opinion
Atkins: Politicized activists with minimal shares weaponize shareholder proposals
“So unfortunately, these have been weaponized to push particular views or issues by certain I call them politicized shareholder activists. So they, yes, they own shares, but a very, usually a very minimal number of things.”
Disclosure
Atkins: SEC and DOL reviewing rules to expand retail private access
“So we are undertaking, and there's an executive order the president signed, asking the
Department of Labor and us to, ah, you know, to make it so, to look at these various rules and, ah, and to try to see what makes sense for you know, normal people to be able…”