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Wednesday, May 30, 2007

Atkins May Leave the SEC

by: Sean Hanna, Editor in Chief

One of the five seats on the Securities and Exchange Commission may soon be vacant. According to a report in the Washington Post, Paul S. Atkins is being considered by the Bush Administration to head the Commodity Futures Trading Commission. Atkins' term at the SEC is scheduled to end next year. The paper cites two people "briefed on the process" as its source.

Atkins holds one of two Republican seats at the SEC (the regulators' five governing seats are split with each party holding at least two with the fifth held by the chairman, who is currently Christopher Cox).

During his term Atkins has been a proponent of caution in the midst of calls for increased regulations of the securities industry. One of his concerns has been that the new regulations provide benefits that outweigh their costs.

The post at the CFTC opened up after Chairman Reuben Jeffery III was nominated as undersecretary of state for economic, energy and agricultural affairs. 

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